Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.0%
  • Property ID: 1188488
  • Posted On: Feb 7, 2020
  • Updated On: Jun 1, 2020

Property Description

12% CAP rate! 3380 Alligator Road is a 5 pad, all-age community located in Florence, SC. All units are park owned. Public water and septic tanks. There is an inactive well on site if new owner wishes to convert utilities. 2019 up-fit includes: cool sealing / new shingles on all roofs, exterior painting, new vinyl siding, and interior remodel. Park and units are well kept and have virtually no deferred maintenance. All tenants are rigorously screened with an average stay of over 4 years. Lots 1 and 2 have long term tenants and are below market rents. Storage unit in the center belongs to park. Alligator road is in process of being widened to a four lane thorough fare. Rents will continue to increase!


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Park Information

Community Type: All Age
Number of MH Lots: 5
Total Occupancy: 100.0 %
Year Built: 1990
Size: 1 acre(s)

Financial Information (Actual)

Gross Income $28,935
Operating Expense $4,973
Net Operating Income $25,762
Expense Ratio 17.2 %
Debt Info

Lot Information

Singlewide Lots: 5

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 5

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