Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 9.0%
- Listing ID: 1929846
- Posted On: Nov 9, 2022
- Updated On: Feb 7, 2023
Description
Mill Pond Village presents a unique opportunity for the savvy investor. The property has 83 rental pads and 80 self-storage units. While a majority of the lots are not occupied yet, all utilities are present at the street. All units on the ground (27 currently) are occupied and several new units are coming online soon (1 TOH/1 POH). The park simply needs an owner that has the capacity to lease, and or sell, homes to tenants as the demand is high.
NOTE: The public utilities are provided by Laurens County.
Location
The property is located southwest of Clinton, SC. It is 38 miles to Spartanburg, 46 miles to Greenville and 65 miles to Columbia. Laurens County is growing rapidly as companies are locating new businesses along both I-26 and I-385 which is within 20 minutes of the subject property.
Amenities
- Storage
Park Information
| Number of MH Lots: | 83 |
| Total Occupancy: | 35.0 % |
| Average MH Lot Rent: | $275 |
| Size: | 35 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $407,971 |
| Operating Expense: | $128,833 |
| Net Operating Income: | $279,833 |
| Expense Ratio: | 31.6 % |
| Debt Info: | none |
Lot Information
| Doublewide Lots: | 83 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 12 |
| Average Rent for Park-owned Homes: | $700 |
