Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 16.0%
  • Listing ID: 476126
  • Posted On: Oct 9, 2014
  • Updated On: Feb 1, 2015

Description

This is a great investment opportunity selling BELOW the APPRAISED VALUE located near a rapidly growing area of the upstate of South Carolina. You will not be purchasing a traditional “mobile home park” but a well maintained mobile home community with long term renters and substantial cash flow. This 7.73 acre property contains 9 rental mobile homes with room to grow as the county only requires ½ acre per home. Renters are required to maintain the yard around their home and pay their own power as each unit is service by separate power meters. Per Pickens County, this property could be converted to contain rental duplexes should a buyer so desire. Rental rates and owner expense reports are available upon request by serious buyers. Sale consists of the following tax map numbers: 5007; -00-22-4810, -00-23-4084, -00-23-4233, -00-23-4350, -00-23-3642, -00-23-3994, -00-22-6986.

Amenities

  • Storage
  • Handicap Accessible
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Park Information

Community Type: All Age
Number of MH Lots: 9
Total Occupancy: 90.0 %
Year Built: 1998
Average MH Lot Rent: $500
Size: 8 acre(s)

Financial Information (Actual)

Gross Income: $53
Operating Expense: $14
Net Operating Income: $38
Expense Ratio: 26.4 %

Lot Information

Singlewide Lots: 9
Park Model Lots: 9

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 9
Average Rent for Park-owned Homes: $495