• Chesapeake Estates - 1042 Bethel Rd, Chesapeake City, MD 21915

For Sale

Multi-Family

For Sale

This property is available for sale
14.4
Acres
$2,799,999
Sale Price
  • Total Building Size
    627,264 RSF
  • Overview

    Chesapeake Estates is an all-age 58 Site community located in Chesapeake City, Cecil County, Maryland. Chesapeake City is a rapidly growing area of North Eastern Maryland. The community is located just 30 minutes from Wilmington, and just over an hour to both Baltimore and Philadelphia. Cecil County is home to the northern most reaches of the Chesapeake Bay, and is home to numerous retirees, second homes, and vacationers.
    Chesapeake Estates consists of 58 total sites, including 4 POH's and 2 vacant sites. Generally, the current ownership raises rents $24 every two years. This will allow a new owner to raise rents in 2020 if they choose to go to a more common annual rent-raise schedule. There is also an on site manager who receives free rent and monthly compensation. Currently the community is serviced by septic sewage and well water, city utilities may be possible in the future.
    As always, this is a confidential listing. Please do not share this information or contact the owner. Also, please do not go to the park without arranging a showing with the listing agent. While on site, please do not speak to any managers or tenants. Please contact us for more information.

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Property Details

Chesapeake Estates is an all-age 58 Site community located in Chesapeake City, Cecil County, Maryland. Chesapeake City is a rapidly growing area of North Eastern Maryland. The community is located just 30 minutes from Wilmington, and just over an hour to both Baltimore and Philadelphia. Cecil County is home to the northern most reaches of the Chesapeake Bay, and is home to numerous retirees, second homes, and vacationers.
Chesapeake Estates consists of 58 total sites, including 4 POH's and 2 vacant sites. Generally, the current ownership raises rents $24 every two years. This will allow a new owner to raise rents in 2020 if they choose to go to a more common annual rent-raise schedule. There is also an on site manager who receives free rent and monthly compensation. Currently the community is serviced by septic sewage and well water, city utilities may be possible in the future.
As always, this is a confidential listing. Please do not share this information or contact the owner. Also, please do not go to the park without arranging a showing with the listing agent. While on site, please do not speak to any managers or tenants. Please contact us for more information.

  • Property Type
    Multi-Family
  • Sale Price
    $2,799,999
  • Total Building Size
    627,264RSF
  • Total Acres
    14.4
  • Cap Rate
    8.0%
  • Property ID
    2155751

Landlord's Sales Representatives

  • Buddy Martin
    Tru Agent Real Estate
     
  • Dominic Keithley
    Tru Agent Real Estate
     
  • Ian Glasser
    Tru Agent Real Estate