Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 14.3%
  • Property ID: 1090355
  • Posted On: Jun 5, 2019
  • Updated On: Aug 2, 2019

Property Description

Established mobile home park with 27 total lots. All homes are parked owned. 18 homes currently habitable and rented, 4 homes can be rehabbed or replaced, and 3 empty lots may be filled with new trailers. 2 trailers are burned out. The one on lot 24 can be replaced but the one on lot 18 must be rebuilt onsite. All homes are park-owned but some tenants have expressed interest in buying.
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 without commissions. No seller financing.
I don't have time to keep it up so I dropped the price for a quick sale. Cash offers preferred at this price. No low ball offers will be considered..
Financials are 2018 year end.
Only vacancies are due to rehab and repairs.
Rents are low due to long term tenants but can be increased.
Great potential.
9 homes on three septic tanks, the other 12 use county sewer.
Agent is owner.
Homes can be replaced.
The septic tanks are in good condition. They cannot be replaced once they stop functioning. The county sewer district states these homes must be put onto the sewer system with the other homes in the park.
Sold 'as is.

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Park Information

Community Type: All Age
Number of MH Lots: 27
Total Occupancy: 100.0 %
Year Built: 1962
Average MH Lot Rent: $450
Size: 5.0 acre(s)

Financial Information (Actual)

Gross Income $99,215
Operating Expense $42,173
Net Operating Income $57,042
Expense Ratio 42.5 %
Debt Info

Lot Information

Singlewide Lots: 26
Doublewide Lots: 1
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 23
Average Rent for Park-owned Homes: $450

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