2225 Chalybeate Springs Dr - Manufactured Housing/Mobile Housing FOR SALE


Fuquay Varina, NC 27526
$1,620,000 USD
910-988-4263
2225 Chalybeate Springs Dr, Fuquay Varina, NC for Sale
$1,620,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/7
null | 4.1% Cap Rate

2225 Chalybeate Springs Dr
Fuquay Varina, NC 27526


OVERVIEW

Cedar Downs/Jordan Mobile Home Park consists of 24 tenant owned homes (TOHs) located on 9.44 acres in the Harnett County Submarket of North Carolina. The park has its most recent biannual county inspection on or about September 2025 and is in good standing. Park infrastructure consists of paved roads and security lighting. The park is serviced by county water and septic tanks (1 to 1 ratio). All utilities are individually metered and paid for by tenants. Trash pickup is paid for by owner. Current monthly gross operating income is $9,000 ($375 lot rent; $108,000 annual) with a substantial value-add opportunity by increasing rents to market level ($400-$600 lot rent estimate). In 2025, net operating income was $66,479 ($325 lot rent in 2025). The proforma NOI, using $500 lot rent, is $114,610 (7.07% cap rate). Cedar Downs/Jordan MHP is centrally located in North Carolina in the Fuquay Varina Submarket within 35 miles of Fayetteville and 25 miles of Raleigh.

FOR SALE DETAILS

PRICE

$1,620,000 USD

PRICE/SF

$3,240 USD /SF

# OF UNITS

24

PRICE/UNIT

$67,500

CAP RATE

4.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cedar Downs/Jordan MHPs 24 Tenant Owned Homes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

9.44 AC

LAND SF

411,206 SF

ZONING

RA-20M

APN/PARCEL ID

0664-62-0124.000,0664-62-1174.000;

ASK ABOUT THIS PROPERTY

Richard Fox IIIGrant-Murray Real Estate LLCMore Info
910-988-4263

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Richard Fox IIIGrant-Murray Real Estate LLCMore Info
910-988-4263

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.