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About This Home
This 0-bedroom, 0-bathroom residential multi family at 1150 Garretts Way NE in Leland, NC is listed for $1,500,000 ($300 per sqft). the home offers 5,000 sqft of living space on a 5.93 acres lot.
Discover this rare, seller financing, investment opportunity just 8 minutes from the Leland Walmart and U.S. Highway 17 - ideally located in one of the fastest-growing corridors in coastal North Carolina. Situated on 5.93 acres, this property currently includes 7 park-owned mobile homes, all tenant-occupied with long-term residents.
Each home is separately metered for public utilities, providing steady cash flow and minimal management headaches. The park generates roughly $6,000/month in rent, with room for upside as current rents are below market - similar 2-bedroom units in the area rent for $1,000-$1,250/month.
With titles in hand and most units from the 1990s, this is a well-positioned, income-producing asset that also offers expansion potential. The land was once a 15-lot mobile home park, and with 5.93 acres of usable space, an investor could add additional homes and restore the park to its full capacity. The owner currently carries general liability insurance and is responsible for yard maintenance, making this a smooth handoff for new ownership.
Key Features
- 5.93 acre lot
Monthly Cost Estimate
$8,022/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1150 Garretts Way NE
Leland, NC 28451
Not In Subdivision
Property Details
Heating
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 1150 Garretts Way NE is listed at $1,500,000 ($300/sqft). The estimated monthly payment is $6,500 based on 20% down at 6.5% interest.
Key features include: 5.93 acre lot.
This property is listed by Adam Hashem and can be reached at 7049622077 or adam.hashem7@gmail.com.