Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Listing ID: 4198047
- Posted On: Dec 24, 2023
- Updated On: Jul 16, 2024
Description
MAY/JUNE OWNER’S REPORT ATTACHED $32,581.88 GROSS RECEIPTS & $23,070.00 OWNER PROCEEDS AFTER SOME EXPENSES. MORE NEW DATA CALL OR EMAIL (843) 532-1641 OR GIL@KINGSHIPCOLLECTIVE.COM. Estimated $276,000++ NOI equating to $23,000+ 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 $32K 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. . 6.57%+ 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 $27,126.50 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 for much higher prices. 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/listing_23927_2024-07-06t140350/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 populations drawn 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/hidden-oaks-southern-pines-mhp-lexington-sc/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.
Owner may consider owner financing 1) with proof of funds to do the complete deal 2) Half-Down and Personal Guarantee on the balance 3) Acceleration if default no foreclosure 4) 20-year amortization with a three-year balloon at a to be determined interest rate 5) Owner is in his upper 70’s and wants to 1031 out sooner rather than later.
Call me at (843) 532-1641 or email gil@kingshipcollective.com to discuss his Texas Oil Country MHP as well.
Contact us at Kingship Collective to discuss his South Carolina MHP as well. Gilbert Bradham, Managing Partner -Broker In Charge (843) 532-1641, gil@kingshipcollective.com COOPERATIVE LISTING MANAGING PARTNERS: Lorne Ottinger, Kyle Ferguson, Greg Myers.
LORNE OTTINGER
SC #92273
(843) 737-3532
lorne@kingshipcollective.com
KYLE FERGUSON
SC #117497
(407) 267-7878
kyle@kingshipcollective.com
GIL BRADHAM
SC #3844
(843) 532-1641
gil@kingshipcollective.com
GREG MYERS
SC #21231
(864) 420-4328
greg@kingshipcollective.com
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 $276,00 NOI, equating to $23,000+ per month after a rent push. 6.57% Cap Rate. NOI has been as high as $27,126.50 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/listing_23927_2024-07-06t140350/full-view.html
Video Tour https://drive.google.com/drive/u/4/folders/158Tjux5g5s6sIrzzl3-UIf4W2wYJ6x_W
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: | $950 |