Contact Information

Michael Kennedy

Century 21 Vanguard

Mobile Home Park Details

  • Price: $169,000
  • Cap Rate: 14.0%
  • Property ID: 1289767
  • Posted On: Jul 16, 2020
  • Updated On: Sep 25, 2020

Property Description

Recession Proof. Covid-19 Proof. Where else would you invest? 100% of rents collected through June of 2020 @ a 15% CAP! 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, gravel on parking lot, 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!

Amenities

  • Storage
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Park Information

Number of MH Lots: 5
Total Occupancy: 100.0 %

Financial Information (Actual)

Gross Income $29,800
Operating Expense $4,854
Net Operating Income $24,946
Expense Ratio 16.3 %
Debt Info

Lot Information

Singlewide Lots: 5

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $550

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