308 Meadow DR new Save Request In-Person Tour Request Virtual Tour
Lexington,NC 27295
Key Details
Property Type Single Family Home
Sub Type Portfolio
Listing Status Active
Purchase Type For Sale
Square Footage 7,760 sqft
Price per Sqft $70
MLS Listing ID 4223423
Bedrooms 20
Full Baths 12
Half Baths 1
Year Built 1951
Lot Size 3.870 Acres
Property Sub-Type Portfolio
Property Description
Discover Sleepy Meadows Mobile Home Park, a strategically located 10-unit mobile home park with an additional stick-built home, offering a unique investment opportunity in the heart of Lexington. This established community features many long-term tenants, ensuring steady cash flow and tenant stability. One tenant handles property upkeep in exchange for free rent, helping to keep operational costs down. For investors looking for value-add potential, the county has approved the addition of more mobile homes and the park is grandfathered in to replace mobile homes when needed. This creates an opportunity to increase revenue. Coin laundry on-site creating more revenue. While some of the existing units may require work, this presents a chance to enhance the property and boost long-term profitability. Whether you're a seasoned investor or new to the mobile home park asset class, Sleepy Meadows offers stability, expansion potential, and a prime location.
Location
State NC
County Davidson
Zoning RA3
Interior
Heating Other - See Remarks
Cooling Window Unit(s)
Laundry Common Area
Building
Dwelling Type Manufactured
Foundation Other - See Remarks
Sewer Septic Installed
Water City
Structure Type Vinyl
New Construction false
Schools
Elementary Schools Unspecified
Middle Schools Unspecified
High Schools Unspecified
Others
Acceptable Financing Cash,Other - See Remarks
Listing Terms Cash,Other - See Remarks
Special Listing Condition Subject to Lease