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Under contract-no show
  • Price cut: $25K (3/17)
    $524,900

    308 Meadow Dr, Lexington, NC 27295

    20beds
    7,760sqft
    : 
    Multi Family
    Built in 1951
    -- sqft lot
    $-- Zestimate®
    $68/sqft
    $-- HOA

    What's special

    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.
    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#: 4223423MLS Logo
    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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