Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 14.3% (Actual)
- Listing ID: 1090355
- Posted On: Jun 5, 2019
- Updated On: Aug 2, 2019
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.
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 acre(s) |
Financial Information (Actual)
| Gross Income: | $99,215 |
| Operating Expense: | $42,173 |
| Net Operating Income: | $57,042 |
| Expense Ratio: | 42.5 % |
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 |