Details

Property Description

Here is a value-add investment opportunity in the heart of Garrett County’s recreation corridor. This 8.19± acre tract is a grandfathered mobile home park, located minutes from Deep Creek Lake and Wisp Resort. The property is zoned Lake Residential 2. It is served by one private well and a private septic system, with four septic systems on the property, and it also has the potential to connect to public water and sewer. The county has 17 addresses on file for the park. Six tenants currently occupy seven lots, since one tenant holds two lots. Lot rent has historically been $265 per month. Reported expenses include septic pumping at $235 per quarter, about $100 per month in electric for the pump house (tenants pay their own electric), and snow removal at roughly $120 per plowing. Current zoning regulations allow one unit per two acres, but the park’s mobile home use is grandfathered in. A buyer who removes the mobile homes and replaces them with larger site-built homes would move the property out of the mobile home park category and under current standards of one home per two acres, or about four homes. Buyers should verify all of this directly with Garrett County Planning and Zoning. Buyers should also note that a few abandoned trailers remain on the property. The existing mobile homes are estimated at 1, 000 square feet each. No rent history is available because the prior property manager retained all records. The property is being sold As-Is. Close to Deep Creek Lake and Wisp Resort, with year-round outdoor recreation, this is a strong location for an investor looking to hold, reposition, or redevelop. All information is deemed reliable but not guaranteed, and buyers should independently verify zoning, density, utilities, lot and unit counts, permitted uses, and all income and expense figures.