Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 13.0%
- Listing ID: 13109
- Posted On: Jun 2, 2010
- Updated On: Mar 24, 2017
Description
Very nice mobile home park located in a country setting. The 42.54 acres are wooded and rolling and have been well maintained. Some tenants have been in residence for years and love it. This park is located near 385 bypass south of Greenville, SC. Greenville is a top growth area in the US and one of the top places to retire. This area has had national attention due to the healthy economic climate, industry growth, job creations, infrastructure and cultural arts. This property is a steady investment for someone looking for residual income. NOI $287,514.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 84 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1995 |
| Average MH Lot Rent: | $250 |
| Size: | 43 acre(s) |
Financial Information
| Gross Income: | $367,932 |
| Operating Expense: | $80,418 |
| Net Operating Income: | $287,514 |
| Expense Ratio: | 21.9 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 46 |
| Average Rent for Park-owned Homes: | $525 |