Contact Information

Gilbert Bradham
License: 3844
Kingship Collective
Photo

Mobile Home Park Details

  • Price: $3,800,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Listing ID: 4198047
  • Posted On: Dec 24, 2023
  • Updated On: Mar 24, 2024

Description

MORE NEW DATA CALL OR EMAIL (843) 532-1641 OR GIL@KINGSHIPCOLLECTIVE.COM. Estimated $252,00++ NOI equating to $21,000+ per month after a rent push. **THIS HAS CHANGED, AND NOW A PUSH TO $1,000 PER MONTH PER UNIT STARTED WITH NEW LEASES. EXPONENTIALLY GOING ABOVE $30K PER MONTH GROSS WITH SOME CAPEX PRIOR TO NEW TENANTS OR RENT BUMPS TO $1,000 PER MONTH BEING IMPLEMENTED.** MORE DETAILED DOCUMENTATION CAN BE PROVIDED WITH REQUIRED PROOF OF FUNDS TO PROCEED. MEAT ON THE BONE BEFORE TOTAL PIVOT AND PRICE INCREASE. 6.63%+ Cap Rate. SELLER FINANCING MAY BE CONSIDERED W/ HALF DOWN, POFs, AND ACCELERATION CLAUSE W/ PERSONAL GUARANTEE TO PAY FULL BALANCE. NOI has been as high as $27,000 per month, but taking into consideration some Capex, so estimating low based on rental turnover, upfit, and then rent increases to new tenants at inception and phase in on older. Rent Comps, substantiated by CoStar Analytics in the area, will allow going much higher. Stabilized June 2023 with most Capex completed yielding higher NOI. The caveat is any asset can have fluctuations, but this is a snapshot. Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio. Less than 2 miles from a Walmart Super Center and Lowe's Home Improvement Center. Walgreens, Dollar General, Starbucks, Publix, Food Lion, High School, and Middle School are also within several miles. Lexington is a rapid expansion zone for the Columbia MSA for rooftops, commercial, and industry. Correspondingly, this combination of assets will maintain occupancy and vibrancy long-term based on the pattern analysis of past performance and future projections. Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W I WILL PRESENT ANY AND ALL OFFERS. CREOP Flipbook https://www.flipsnack.com/A5A986CC5A8/gilbert-2/full-view.html

Correspondingly, this combination of assets will maintain occupancy and vibrancy long-term based on the pattern analysis of past performance and future projections. According to the U.S. Census Bureau, the Columbia, SC, Metropolitan Statistical Area has a population of 837,092, considered the second largest in South Carolina. Lexington is now considered the fasting growing area in the Columbia MSA and serves as a suburb of the SC state capital, Columbia. Two significant population draws to Columbia include the University of South Carolina, which has a student population of 34,000, and Fort Jackson military base, home to 3,500 active-duty soldiers and their 12,000 family members. Very Relevant & Informative CREOP Flipbook https://www.flipsnack.com/A5A986CC5A8/gilbert-2/full-view.html VIDEO TOUR - https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W I WILL PRESENT ANY AND ALL OFFERS. PROOF OF FUNDS TO DO A DEAL REQUIRED AND REQUESTED UPFRONT. RENT ROLL AVAILABLE SIGN THE CA, AND IT IS AVAILABLE AS A CURRENT SNAPSHOT. DO NOT CONTACT TENANTS OR MANAGEMENT WITHOUT EXPRESS PERMISSION FOR THE SAME.

Location

Columbia, SC MSA / Lexington County / 38 Mobile Home Units In a Two-Park Adjacent Portfolio *Less than 2 miles from a Walmart Super Center and Lowe's Home Improvement Center. Walgreens, Dollar General, Starbucks, Publix, Food Lion, High School, and Middle School are also within several miles. Lexington is a rapid expansion zone for the Columbia MSA for both rooftops, commercial, and industry. Correspondingly, this combination of assets will maintain occupancy and vibrancy long-term based on the pattern analysis of past performance and future projections. Lexington is the exploding population footprint of the Columbia MSA. The Columbia MSA has the University of South Carolina with significant enrollment, and Fort Jackson trains Army Soldiers from all over the United States. Estimated $252,00 NOI, equating to $21,000+ per month after a rent push. 6.63% Cap Rate. NOI has been as high as $27,000 per month, but taking into consideration some Capex, the estimate is low. Rent Comps in the area will allow going much higher, as seen in the CoStar Analytics. Any figures can fluctuate over time. RENTS ARE BEING PUSHED TO $1,000 PER UNIT APPROXIMATELY NOW.
CREOP Flipbook https://www.flipsnack.com/A5A986CC5A8/gilbert-2/full-view.html
Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W

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Park Information

Community Type: All Age
Number of MH Lots: 38
Total Occupancy: 100.0 %
Average MH Lot Rent: $950
Size: 10 acre(s)

Financial Information (Actual)

Gross Income: $365,520
Debt Info: N/A

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 37
Average Rent for Park-owned Homes: $802

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