Lakeside GCI

BWE Investment Sales, LLC (BWE) is pleased to offer the exclusive opportunity to acquire Lakeside GCI, a 65-lot mobile home community in Fayetteville, NC. The current average lot rent is $393. The community is serviced by public water & sewer, which are direct billed, and curbside trash, which is billed back to tenants.

Lakeside GCI is situated about 4 miles from the center of downtown Fayetteville and approximately 65 miles from the state capital, Raleigh. This provides residents with access to various entertainment options, higher education institutions, and job opportunities with major employers. Lakeside was recently repaved, and the current owners have infilled this community with quality new homes, bringing the physical occupancy to 70%. With the recent capex and infill that was completed, it gives the next buyer the opportunity to focus on infilling the remaining 19 vacant lots and renting or selling the 4 vacant homes at an attractive entry basis. There are potentially another 5 vacant lots that we have not included in our valuation or proforma, bringing the total to 70 total lots. Based on our 5 year underwriting, we are projecting the buyer would see a 20%+ IRR and over a 2x equity multiple at list price.