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The Glen at Grover is located on the North Carolina/South Carolina border. The Park includes 7 existing pads each with a good quality mobile home owned by the park. It sits on approximately 4.67 acres. The tenants are long term. Rents are $400+/- per month. The rents are below market. The county informs us that there could be three additional pad sites, but given the current high projected income, expansion would not significantly improve the cash on cash return. Each tenant pays his or her own utilities including water. The tenants are responsible for their own trash and moving. The owner has little expense beyond insurance, taxes, and R&M. A curved paved oad currently serves the residential homes. The park boasts mature border vegetation, shade trees, city water and sewer, nice expansive lawns, security lighting and a paved road.
NewLeafe owns 95% of the equity in the property.
The Glen at Grover Mobile Home Park
Grover, North Carolina