2689 Timerill Drive Morganton, NC $ 1,950,000
2689 Timerill Drive
$ 1,950,000
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2689 Timerill Drive

Morganton, NC, 28655
$ 1,950,000
Baths0.0

Monthly Estimate*

$ 13,621

2689 Timerill Drive, Morganton, NC 28655 - Image 1
2689 Timerill Drive, Morganton, NC 28655 - Image 2
2689 Timerill Drive, Morganton, NC 28655 - Image 3
2689 Timerill Drive, Morganton, NC 28655 - Image 4
2689 Timerill Drive, Morganton, NC 28655 - Image 5
2689 Timerill Drive, Morganton, NC 28655 - Image 6
2689 Timerill Drive, Morganton, NC 28655 - Image 7
2689 Timerill Drive, Morganton, NC 28655 - Image 8
Studio

Commercial Property for sale in Morganton, NC

for $1,950,000. This building was built in 1965 on a lot size of 7.18.

This 52 pad MHP offers a density that is difficult to find either on, or off the market in Western NC! The park contains mostly older singlewides, with 14 tenant owned units, 11 park owned units, 17 vacant park owned units, 10 vacant pads. The park features a gently sloping topography that offers pleasant views from the knoll top in the center of the property. MHP pads and units are served by a combination of individual and shared septics. Landlord covers trash/waste service, also city water/sewer billing. The opportunity exists to pass thru additional utility expenses to tenants. Zoned R-3 in Burke County. Convenient location only 7 miles to downtown Morganton and 9 miles to downtown Lenoir with high visibility and easy access off Hwy 64. All considered, this park offers an excellent opportunity for a value-add investor to create significant long-term cash flow with a good park density in a growing region that will see continued housing demand.

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Commercial Contingent

Price

$ 1,950,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

Manufactured Home Park

Lot Size

7.18

Year Built

1965

Town/City

Morganton

County/Region

Burke

MLS | Web ID

4092912

Features
General
Sewer Septic Installed
Utilities Cable Available Satellite Internet Available Underground Utilities
Roof Other - See Remarks
Zoning R-3
Construction Materials Other - See Remarks
Year Built 1965
Property SubType Manufactured Home Park
Gross Income 169236
Elevation 1000
County Burke
New Construction N
Property Type Commercial Sale
Possible Use Commercial Multi-Family
Directions From downtown Morganton take US 64 towards Lenoir. Turn left into the MHP on Timerill Dr.
City Morganton
Street Name Timerill
Standard Status Active Under Contract
Construction Type Manufactured
Restrictions No Restrictions
Tax Assessed Value 809763
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Exterior
Parking Features Assigned Driveway Shared Driveway
Lot Features Cleared Sloped Views
Water Source Community Well Shared Well Well
Inclusions Building Fixtures Land Other
Lot Size Area 7.18
Foundation Details Pillar/Post/Pier
Road Surface Type Paved
Lot Size Units Acres
Road Frontage Type State Road
Road Responsibility Private Maintained Road
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Interior
Street Suffix Drive
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Internal Only
Street Number 1 2689
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* Excluded Features
List By
Keller Williams Professionals

Broker

Affordability Calculator

$13,621
Per Month
100%
0%
0%
Monthly Principal & Interest
$13,621
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
294628 Elementary School
294724 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
12/11/2023$1,950,000 Listed Price

Map


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2689 Timerill Drive, Morganton, NC, 28655 is a Commercial Property for sale at $1,950,000 with a lot size of 7.18. 2689 Timerill Drive is a studio with 0.0 baths and was built in 1965. The property's zip code is 28655 which is in Morganton, NC