Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.5%
  • Listing ID: 800895
  • Posted On: Apr 6, 2017
  • Updated On: Jun 5, 2019

Description

Established mobile home park with 27 total lots. All homes are parked owned. 20 homes currently habitable and rented, 3 homes can be rehabbed or replaced, and 3 empty lots may be filled with new trailers. 1 trailer is burned out and needs to be rebuilt onsite.
Great location near I-20 and I-77. Convenient to downtown Columbia, Ft. Jackson, and Blue Cross Corporate Headquarters. No new mobile home parks allowed in Richland County. Sold 'as is' at this price. Wife and I are looking to move and want to sell this property quickly. No seller financing. Low ball offers will not be considered.
Only vacancies are due to rehab and repairs.
Rents are low due to long term tenants. Can be increased.
9.0% cap rate in 2016. Will be over 10% 2017. Can be increased to 11% by charging tenants for water.
9 homes on septic, the other 12 are county sewer.

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

Park Information

Community Type: All Age
Number of MH Lots: 27
Total Occupancy: 100.0 %
Year Built: 1969
Average MH Lot Rent: $450
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $93,975
Operating Expense: $48,506
Net Operating Income: $45,469
Expense Ratio: 51.6 %

Lot Information

Singlewide Lots: 26
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 24
Average Rent for Park-owned Homes: $450

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