Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 16.0%
  • Property ID: 1012227
  • Posted on Dec 2, 2018

Property Description

Average lot rent based on park-owned mobile homes only - does not include the two lot rent only lots. Two houses vacant. One empty space. Currently rented at lower rates.
As tenants leave and new ones move in, the rent rates are increased to $425-$475 depending on the size of the home. There are four 3 bedroom homes, the remaining homes are 2 bedroom.
There is room to raise the rents on existing tenants.
I have put a lot of work into the park and I will continue to work on the park until closing, so I will hopefully have additional homes rented. Need to Sell. No Owner-financing. $280,000 OBO


2.53 Acres Bobby Gerald HWY, Marion County, SC 29571
18 spots, 15 mobile homes, 2 lot rents
TMS# 053-00-00-077-000

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 88.0 %
Average MH Lot Rent: $297
Size: 2.5 acre(s)

Financial Information

Gross Income $51,420
Operating Expense $6,000
Net Operating Income $45,420
Expense Ratio 11.7 %
Debt Info

Lot Information

Singlewide Lots: 18

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 15
Average Rent for Park-owned Homes: $297

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