Contact Information

P

Parks Unlimited LLC

Mobile Home Park Details

  • Price: $1,150,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 1307042
  • Posted On: Aug 14, 2020
  • Updated On: Sep 30, 2020

Property Description

96 lot Mobile home community located in Sumter SC. This park has HUGE upside with 37 vacant lots. Potential value on this park could be in the range of $3.5M with some TLC and homes. Sumter SC is known for the Air Force 20th Fighter Wing Squadron that is stationed at Shaw Air Force Base.
Do not miss out on this one!
Shaw Air Force Base is a United States Air Force base located approximately 8.4 miles west-northwest of downtown Sumter, South Carolina. It is one of the largest military bases operated by the United States, and is under the jurisdiction of the United States Air Force Air Combat Command.

96 lots 45 POHs, 0 VPOHs, 36 VLs, 14 TOHs, 1 Office

Approx gross collections around
$288,000 - 2019

Most homes are 1 to 1 on septic, others may be 2 to 1 larger septic tank.
Septics rarely ever needs to pumping.
Clean, free, tested, well water
Very quiet and peaceful park.
Tenants only pay electrical and rent
Paved roads could use an 1.5 in compressed layer on top.
Parks was built in the 80’s
Most tenants are on month to month.
Park owns 8 total Electrical Meters total, 6 well meters, 1 street light meter, 1 office meter
Some tenants have been there, 10, 15 and 20 years
Water and trash are included
Six wells, tested monthly, Shaw Air Force Base will connecting park to city water next fall.
No Owner Fin
Homes range from late 1990's to 2000's
Very Good Schools
Estimated 45% expenses
200 amp pedestals
Rents around 450-550
Lot rents around 200
8 mins to Super Walmart
Two dumpsters
Parcel id, 1550002002
Dropbox link, click here. https://www.dropbox.com/sh/a033w74h1eb29zw/AACzC2iXr07m2lacWlRa-wRpa?dl=0
Information contained in this document has been obtained from sources believed to be reliable and accurate, It has not been verified and makes no guarantee, warranty or representation regarding it. It is the potential buyers responsibility to independently confirm the accuracy and completeness of property information. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The information contained herein should be independently determined or confirmed and evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs

Location

The park is located just 9 minutes miles from a Super Walmart.
Population in a 25 mile radius is 1,404,798.
https://www.freemaptools.com/find-population.htm This area is in high demand for housing.

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Park Information

Number of MH Lots: 96
Total Occupancy: 90.0 %
Year Built: 80
Average MH Lot Rent: $200

Financial Information (Pro Forma)

Gross Income $288,996
Operating Expense $45
Net Operating Income $145,000
Expense Ratio 0.0 %
Debt Info none

Lot Information

Singlewide Lots: 96

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 45
Average Rent for Park-owned Homes: $500

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