Mobile Home Park Details

  • Cap Rate: 8.1%
  • Property ID: 1299648
  • Posted On: Aug 3, 2020
  • Updated On: Nov 16, 2020

Property Description

Please contact the listing agent Dylan Hellberg for more information:
dylan.​hellberg@marcusmillichap.​com (843) 469-0347

https://estersonmhcteam.​com/property/kingstree-mhc

Kingstree MHC is an all ages, year-round community that is 100% occupied with each home having been improved in the past 18 months.
Located 20 min from the nearest Walmart, 52 minutes from Moncks Corner, SC, and one and a half hours from Myrtle Beach, Kingstree MHC consists of 18 MH lots with 18 rented park owned homes. Lot rent averages $250 and home rent averages $248. Every home in the park has have had new paint, new roof sealing, and other improvement since ownership took over roughly 18 months ago.

The 18 park owned homes are all occupied and an average vintage of 1980. The park is serviced by public water that’s included in the rent, a septic system, and direct billed electric. Using a trailing 12 month average, the water averages out to under $4 per tenant per month (this has been verified numerous times). The septic system has not been inspected or surveyed in recent years. Trash is collected in a single dumpster. The roads are dirt and in average condition.

Location

52 minutes from Moncks Corner, SC and 1 1/2 hours from Myrtle Beach.

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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 100.0 %
Size: 2 acre(s)

Financial Information (Actual)

Net Operating Income $29,884
Debt Info

Utility Information

Water: City
Sewer: Septic

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