Mobile Home Park Details

  • Cap Rate: 6.5%
  • Property ID: 1679227
  • Posted On: May 27, 2022
  • Updated On: Aug 26, 2022

Property Description

Tall Oaks MH Community is a high quality 100% occupied 55 unit, MH rental community located in Florence, South Carolina, a 200k+ population MSA.​ Tall Oaks is conveniently located to the Florence Regional Airport and downtown Florence.​

The asking price for the community is $6,350,000.​ The asking price represents a 6.5% capitalization rate.​

The property consists of 55 units of which a majority are less than 5 years old and the average is 12 years old.​ The homes are individually platted and the project could be sold off as condos to individual tenants.​

The rent roll has an embedded 14% loss to lease and as they are raised to market the NOI increases to a 7.5% yield.​

Tall Oaks provides a tax efficient investment due to the 54 rental homes which allow for the option to use accelerated depreciation on a large percentage of the purchase price.​

Located at the intersection of I-95 and I-20, halfway between Miami and New York, Florence offers easy access to 30 major markets, has a 200,000+ population MSA, and is home to CSX’s largest railway in the state.

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Park Information

Community Type: All Age
Number of MH Lots: 55
Total Occupancy: 100.0 %
Size: 17 acre(s)

Utility Information

Water: City
Sewer: City

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