Photo of Mobile Home Park

Mobile Home Park Details

Distressed: This property is in default, REO or in foreclosure.
Purchase Method: Cash, New Loan
Cap Rate: 12.5%
Listing ID: 661931
Posted On: May 3, 2016
Updated On: Nov 14, 2016

Description

Sandy Hills Mobile Home Park Community is a 59 space all-age community, located in Florence, South Carolina (Florence County). The community is being offered on the basis of its current income. The average three bedroom apartment rents for the Florence, South Carolina area is $839. Unemployment rate is 5.25%, which is lower than the U.S. unemployment rate of
6.3%. Median home price in Florence is $119,100.

Location

Florence has blossomed into a strong center for medical care, with three major medical providers McLeod Regional Medical Center, Carolinas Hospital System and HealthSouth. The growth of these providers has led to the transformation of the Florence skyline over the last 10 years, with development for demand with multi-story high-rises as well as community relation projects. This has brought the headquarters of companies such as, General Electric Medical Systems Manufacturing, many pharmaceutical companies and insurance company headquarters. With all the economic growth and close proximity to attractions like Myrtle Beach, Florence is an excellent city to invest.
While it’s far from big-city services and amenities, the town does have a modest set of local arts assets.

Darlington Raceway 5 miles north is an active NASCAR track, and a series of state parks offer some recreation in the piney hills to the northwest. The area is strong financially with an attractive Cost of living Index and healthy recent job growth.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Get Financing