Bel-Aire Mobile Home Park - Hopkins, SC 3976 Leesburg Road, Hopkins, SC 29061

For Sale     $1,200,000

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Contact Information

SIG Marketing

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Mobile Home Park Details

  • Price: $1,200,000
  • Cap Rate: 5.6% (Actual)
  • Listing ID: 6800782
  • Posted On: Jan 7, 2025
  • Updated On: Jan 7, 2025

Description

Sands Investment Group is Pleased to Exclusively Offer For Sale the 19,300 SF Bel-Aire MHP Located at 3976 Leesburg Road in Hopkins, SC. This Deal Includes a 28 Site Mobile Home Park Off Highway 15 and Current Tenants Paying Below Market Rents - Park Owned Home Rent in the Market and Gov't Subsidized Rent Rate is More Than Double Current Rent Rates, Providing For a Secured Investment.

PROPERTY HIGHLIGHTS:
• 28 Site Mobile Home Park Off Highway 15
• 27 POH (Park Owned Homes) / 1 Vacant Lot Ready For Infill
• 16 of the 27 Homes Occupied - The Balance of the Homes
• are Newly Renovated Waiting For Tenant Infill
• Pro Forma Approximate - NOI on Park Owned Homes All
• Rented at Market Levels: $250k
• Current Tenants Paying Below Market Rents - Park Owned
• Home Rent in the Market and Gov't Subsidized Rent Rate is
• More Than Double Current Rent Rates
• Management Company in Place
• Private Septic / Well Water
• Gravel Road, Cements Pads
• Mix of 80s and Later Model Homes

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Park Information

Community Type: All Age
Number of MH Lots: 28
Total Occupancy: 40.7 %
Size: 4 acre(s)

Financial Information (Actual)

Gross Income: $109,680
Operating Expense: $42,912
Net Operating Income: $66,768
Expense Ratio: 39.1 %

Utility Information

Water: Well
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 27
Average Rent for Park-owned Homes: $250,000

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