Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.0%
- Listing ID: 1989285
- Posted On: Jan 6, 2023
- Updated On: Mar 27, 2023
Description
Woodside Mobile Home Park is located in the county of Florence South Carolina, and just a few miles from McCall Farms, one of the area's major employers with over 800 workers. Additionally, this 29-lot community is located near all the popular area amenities, including a Walmart Supercenter that is 10 minutes away. This quiet, stable community sits on 9.8 acres, and has 5 acres beyond the park to expand. Woodside MHP features city water with septic tanks that are in working condition. Water and trash are paid for by the park. The roads are paved, with new asphalt laid on a majority of the park in July 2021 and new driveways for the sites after that. The park has a good balance of 16 park owned 3 bedroom, 2 bath single wide homes all installed new last year, and 13 tenant owned homes renting the lots only lowering overall park maintenance and expenses. 8 cap.
Location
Effingham is a residential area in Florence County. Located at the intersection
of US 52, US 301 and SC 327, it a picturesque farming area along the
northern banks of the Lynches River that is rapidly converting to communities
with good schools, churches, convenience shopping and a favorable commute
to PeeDee job centers. Effingham attracts families who love great schools and a great place to live. The area is only a little over an hour to the grand SC beaches, yet housing is
more affordable here than beach living. Effingham is located within a region of South Carolina called the "Pee Dee" region which is an eight county region surrounding the Great Pee Dee River.
Park Information
Community Type: | All Age |
Number of MH Lots: | 29 |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $325 |
Size: | 10 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $198,000 |
Operating Expense: | $60,000 |
Net Operating Income: | $138,000 |
Expense Ratio: | 30.3 % |
Lot Information
Singlewide Lots: | 29 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 16 |
Average Rent for Park-owned Homes: | $825 |