308 Meadow Drive
308 Meadow Drive
Lexington, NC 27295
$549,900
- Bedrooms: 20
- Bathrooms:
- Lot Size: 3.87 Acres
Description
Discover Sleepy Meadows Mobile Home Park, a strategically located 10-unit mobile home park with an additional stick-built home, offering a unique investment opportunity in the heart of Lexington. This established community features many long-term tenants, ensuring steady cash flow and tenant stability. One tenant handles property upkeep in exchange for free rent, helping to keep operational costs down. For investors looking for value-add potential, the county has approved the addition of more mobile homes and the park is grandfathered in to replace mobile homes when needed. This creates an opportunity to increase revenue. Coin laundry on-site creating more revenue. While some of the existing units may require work, this presents a chance to enhance the property and boost long-term profitability. Whether you’re a seasoned investor or new to the mobile home park asset class, Sleepy Meadows offers stability, expansion potential, and a prime location.
Property Summary
| Property Type: | Residential Income | Property Subtype : | Portfolio |
| Year Built : | 1951 | Construction Type : | Manufactured |
| Lot Size : | 3.87 Acres | Living Area : | 7,760 sqft |
Appliances
- Other
More Information
- Construction : Vinyl
- Parking : Driveway
- Heating : Other - See Remarks
- Cooling : Window Unit(s)
- Water Source : City
- Road : Private Maintained Road
- Listing Terms : Cash, Other - See Remarks
Based on information submitted to the MLS GRID as of 02-22-2025 07:22:03 UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.