61 State St - Manufactured Housing/Mobile Housing FOR SALE


Asheville, NC 28806- West Asheville
$2,330,000 USD
828-548-0090
61 State St, Asheville, NC for Sale
$2,330,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/11
null | 6.18% Cap Rate

61 State St
Asheville, NC 28806
West Asheville


HIGHLIGHTS

  • In-place income stream with room for rental growth and value enhancement.
  • Additional development opportunity with capacity to add eight lots at Cedar Hill.
  • Portfolio diversification with a mix of mobile homes, single-family homes, and vacant land.
  • Below-market rents offer strategic upside through incremental adjustments.
  • Located in desirable West Asheville and Leicester submarkets with consistent rental demand.

OVERVIEW

This is a rare opportunity to acquire a diversified 26-unit residential rental portfolio spread across five established locations in West Asheville and Leicester, North Carolina. The portfolio includes two mobile home parks—Holly Hills MHP and Cedar Hill Mobile Home Village—offering a stable tenant base and strong local demand for affordable housing. Holly Hills consists of one single-family home and six mobile homes, while Cedar Hill features thirteen units with ample space for additional development. The portfolio also includes four single-family rentals—one doublewide and three houses—and three vacant lots, allowing for creative redevelopment or future resale. Current in-place cash flow, coupled with below-market rents, creates immediate income with significant upside potential. Investors will appreciate the expansion opportunity for eight additional lots at Cedar Hill, unlocking further value. With strong local housing demand and limited comparable inventory, this asset positions buyers to capitalize on both stable returns and longer-term appreciation.

FOR SALE DETAILS

PRICE

$2,330,000 USD

PRICE/SF

$121 USD /SF

# OF UNITS

26

PRICE/UNIT

$89,615

CAP RATE

6.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Family MHP & SFR Portfolio

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.2 AC

LAND SF

226,512 SF

ZONING

RM16

APN/PARCEL ID

9638-34-5160-00000

ASK ABOUT THIS PROPERTY

Scott Raines, CCIMDewey Property AdvisorsMore Info
828-548-0090

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Scott Raines, CCIMDewey Property AdvisorsMore Info
828-548-0090

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