Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 4.4%
- Listing ID: 3672873
- Posted On: Sep 11, 2023
- Updated On: Apr 4, 2024
Description
Contact Information: Dakota - (843) 410-3050
VALUE ADD. Orangewood Mobile Home Park is zoned for 7 homes per acre. If a sewer system is added to the property, the park will be able to house 102 mobile homes at max capacity. Lot rent is currently at the low end of average for the area.
Addressed Lots: 41
Occupied Lots: 20
Lot Rent: $250.00
Key Notes*
Lot Rent: Lot rent is on the lower side for Orangeburg mobile home parks. Average lot rent is $250 - $350 for the Orangeburg area.
Zoning: This park was grandfathered into the previous zoning code and will remain zoned as such as long as it stays a mobile home park. Transfer of ownership will not affect zoning.
Location
Orangewood Mobile Home Park is located off of Middlepen Dr., Orangeburg, SC. It encompasses both sides of Mollie St. SE and Nugget Dr.
Park Information
| Number of MH Lots: | 41 |
| Total Occupancy: | 50.0 % |
| Year Built: | 1995 |
| Average MH Lot Rent: | $250 |
| Size: | 15 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $60,000 |
| Operating Expense: | $4,700 |
| Net Operating Income: | $55,300 |
| Expense Ratio: | 7.8 % |
| Debt Info: | Owned Free and Clear |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
| Average Rent for Park-owned Homes: | $0 |
