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.
Under contract-no show
Price cut: $25K (3/17)
$524,900
308 Meadow Dr, Lexington, NC 27295
20beds
7,760sqft
Est.:
Multi Family
Built in 1951
-- sqft lot
$-- Zestimate®
$68/sqft
$-- HOA
What's special
- 68 days
- on Zillow |
- 34 |
- 3 |
Zillow last checked: 7 hours ago
Listing updated: March 20, 2025 at 10:37am
Listing Provided by:
Josh Wilson josh@guardianrealestategrp.com,
Guardian Real Estate Group LLC
Source: Canopy MLS as distributed by MLS GRID,MLS#: 4223423

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 20
- Bathrooms: 13
- Full bathrooms: 12
- 1/2 bathrooms: 1
Heating
- Other
Cooling
- Window Unit(s)
Appliances
- Included: Other
- Laundry: Common Area
Features
- Has basement: No
Interior area
- Total structure area: 7,760
- Total interior livable area: 7,760 sqft
- Finished area above ground: 7,760
- Finished area below ground: 0
Property
Parking
- Parking features: Driveway
- Has uncovered spaces: Yes
Lot
- Size: 3.87 Acres
Details
- Parcel number: 1133200000020000
- Zoning: RA3
- Special conditions: Subject to Lease
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl
- Foundation: Other - See Remarks
Condition
- New construction: No
- Year built: 1951
Utilities & green energy
- Sewer: Septic Installed
- Water: City
Community & HOA
Location
- Region: Lexington
Financial & listing details
- Price per square foot: $68/sqft
- Tax assessed value: $246,980
- Annual tax amount: $1,926
- Date on market: 2/17/2025
- Listing terms: Cash,Other - See Remarks
- Tenant pays: Electricity
- Road surface type: Dirt, Gravel
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