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308 Meadow Drive

Lexington, NC 27295

20 beds
12.5 baths
7,760 sqft
~4 acre lot
$70 per sqft
1951 build
– on site

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.

Listing courtesy of CMLS / Guardian Real Estate Group LLC

Last checked: Checking… • Last updated Feb 18, 2025 •

MLS# 4223423 —

The Building

Year Built:

1951
New Construction:

false
Construction Type:

Manufactured
Subtype:

Portfolio
Construction Materials:

Vinyl
# of Units Total:

11
Foundation Details:

Other - See Remarks
Basement:

false
Building Area Total:

7760
Above Grade Finished Area:

7760

Interior

Living Area:

7760

Location

Latitude:

35.850411
Longitude:

-80.250669

The Property

Type:

Residential Income
Lot Size Area:

3.87
Lot Size Units:

Acres
Zoning Specification:

RA3
Zoning:

RA3
Road Responsibility:

Private Maintained Road
Road Surface Type:

Dirt, Gravel

Listing Agent

Contact info:

Taxes

Parcel Number:

11-332-0-000-0020-0-0-0
Tax Assessed Value:

246980

Beds

Bedrooms Total:

20

Baths

Full Baths:

12
Half Baths:

1

The Listing

Special Listing Conditions:

Subject to Lease

Heating & Cooling

Heating:

Other - See Remarks
Cooling:

Window Unit(s)

Utilities

Sewer:

Septic Installed
Water Source:

City

Appliances

Appliances:

Other
Laundry Features:

Common Area

Schools

Elementary School:

Unspecified
Middle School:

Unspecified
High School:

Unspecified

The Community

HOA Subject To:

None
Senior Community:

false
Pets Allowed:

Conditional

Parking

Parking Features:

Driveway
Garage:

false
Main Level Garage:

No
Carport:

false
Open Parking:

false

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
2/17/25 Feb 17, 2025	Listed / Active	CMLS	$549,900

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Newest listings in 27295

This multifamily located in NC 27295 is currently for sale for $549,900. 308 Meadow Drive is a 7,760 square foot multifamily with 20 beds and 12.5 baths that has been on Estately for 5 days. This multifamily is in the attendance area of Lexington Senior High School, Lexington Middle School, and South Lexington School.

Based on information submitted to the MLS GRID as of 2/22/2025 1:49 am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. Some IDX listings have been excluded from this website. Listings courtesy of Canopy MLS as distributed by MLS GRID.