2-Park Greenville NC MSA Portfolio
546 Birchwood Dr, Greenville, NC 27834
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Investment summary
Total Lots114
Vacant Lots1
Tenant Owned Homes107
Occupied Park Owned Homes3
Rent-To-Own Homes3
Average Lot Rent$416
Executive summary
The 2-Park Greenville NC MSA Portfolio consists of 114 total lots across 2 communities: Deer Run Estates (# lots) in Greenville, NC and Ashmatau MHP (# lots) in Washington, NC. The communities are located within 40 minutes of each other, and they are both around an hour east of the Raleigh metro area. The portfolio is majority tenant owned (94%), with a current average lot rent of $416 and an occupancy of 99%. Both communities are on public water (direct bill) and private sewer (included in rent).
The 2-Park Greenville NC MSA Portfolio is situated approximately an hour from the state capital of Raleigh and other large neighboring cities, meaning residents have access to various entertainment options, higher education institutions, and job opportunities with major employers. East Carolina University (ECU) is nearby both communities, not only providing an excellent opportunity for higher education, but also serving as a significant employer in the region. The 2-Park Greenville NC MSA Portfolio is also within two hours of the East Coast beaches.
Bang Realty-North Carolina, Inc. | License No. 298998 (NC)
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Investment highlights
Convenient location
Deer Run Estates is situated in Greenville, NC (~86 miles from Raleigh), and Ashmatau MHP is located in Washington, NC (~111 miles from Raleigh). This provides easy access to an array of entertainment options, higher education institutions, and job opportunities. East Carolina University (ECU) is nearby both communities, not only providing an excellent opportunity for higher education, but also serving as a significant employer in the region. Both parks are also within about two hours of the beaches of the East Coast.
Assumable Fannie debt
Assumable Fannie Debt on Deer Run Estates at sub 4.5%.
Low vacancy
The 2-Park Greenville NC MSA Portfolio is currently 99% occupied, with just 1 vacant lot.
Majority tenant owned
The portfolio contains 107 tenant owned homes, which make up 94% of the occupied lots.
Utilities
Both communities are on public water (direct bill) and private sewer (included in rent).
Utility Billing Structure
- Water: Public (Direct Bill)
- Sewer: Private (Included in Rent)
- Trash: Dumpster (Other)
- Electric: Public (Direct Bill)
- Gas: Public (Direct Bill)
Exclusively listed by
Parker Kelly
VP, Manufactured Housing, Investment Sales
Tanner Westerheid
VP, Manufactured Housing, Investment Sales
Matt Skinner
VP, Manufactured Housing, Investment Sales
Nick Ferando
VP, Manufactured Housing, Investment Sales