Spotlight: Whispering Pine Village MHP
Located Fayetteville, North Carolina, the Whispering Pine Village is comprised of 205 spaces with paved roads, boasting 82 park-owned homes, and greater than 96% occupancy. All homes are sub-metered for city water, electric, sewer and trash . The current NOI is $123,454 with a gross potential rent of $257,190. Current cap rate is 7.56%. Whispering Pine Village is one in a three-park portfolio for sale including Carolina Springs and Rosewood, also in North Carolina.
Located in Cumberland County, Fayetteville is home to nearby Fort Bragg and Pope Air Force Base, where several military airborne units are stationed. Due to a large military population the city is known as “The World’s First Sanctuary for Military Families.” Ft. Bragg and five other bases are undergoing major expansions currently through the Base Realignment and Closure Program (BRAC 2005).
Current total ROI is 18.1%. Offering price: $3,400,000.
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