Description
Great investment opportunity to purchase a mobile home park. 6 existing rentals and licensed for a total of 19 lots. Located in Rock Creek area in North Wilkes School district. All homes are currently rented and have been for several years. Public water by Blue Ridge Water Association. Owner financing: Contract for Deed Sale Price: $375,000 20% down: $75,000 $300,000 finance for 20 years. First 5 years at 6.5%. Every year there after 6.5% or prime plus 3.5% (whichever is greater) to be recalculated on the first day of the month from sale date. Prime is around 3.5% currently. Therefore in the 6th year if prime is 10% then buyer would be paying 13.5%.
School Ratings & Info
Description
Great investment opportunity to purchase a mobile home park. 6 existing rentals and licensed for a total of 19 lots. Located in Rock Creek area in North Wilkes School district. All homes are currently rented and have been for several years. Public water by Blue Ridge Water Association. Owner financing: Contract for Deed Sale Price: $375,000 20% down: $75,000 $300,000 finance for 20 years. First 5 years at 6.5%. Every year there after 6.5% or prime plus 3.5% (whichever is greater) to be recalculated on the first day of the month from sale date. Prime is around 3.5% currently. Therefore in the 6th year if prime is 10% then buyer would be paying 13.5%.
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Listing information © 2022 Triad MLS, Inc. All rights reserved. Listing provided courtesy of Sherrill Faw Realty, Llc. Information deemed reliable but not guaranteed.