Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.0% (Actual)
- Listing ID: 880525
- Posted On: Nov 21, 2017
- Updated On: Jun 10, 2018
Description
Established mobile home park with 27 total lots. All homes are parked owned. 19 homes currently habitable and rented, 4 homes can be rehabbed or replaced, and 3 empty lots may be filled with new trailers. 1 trailer is burned out and needs to be rebuilt onsite.
Great location near I-20 and I-77. Convenient to downtown Columbia, Ft. Jackson, and Blue Cross Corporate Headquarters. No new mobile home parks allowed in Richland County. Sold 'as is' at this price. Wife and I are looking to move and want to sell this property quickly. No seller financing. Low ball offers will not be considered.
Financials are 2017 ytd
Only vacancies are due to rehab and repairs.
Rents are low due to long term tenants but can be increased.
Great potential.
9 homes on septic, the other 12 use county sewer.
Agent is owner.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 27 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1969 |
| Average MH Lot Rent: | $450 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $86,278 |
| Operating Expense: | $40,250 |
| Net Operating Income: | $46,028 |
| Expense Ratio: | 46.7 % |
Lot Information
| Singlewide Lots: | 26 |
| Doublewide Lots: | 1 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 24 |
| Average Rent for Park-owned Homes: | $450 |