Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 661390
- Posted On: May 1, 2016
- Updated On: Aug 30, 2016
Description
I have lowered the price for a quick sale. Please call and I will explain why.
This property is in bad shape right now and is not for everybody.
FOR THE RIGHT PERSON, this is an excellent opportunity.
Smalls Mobile Home Park is located in Denmark, SC. About 15-20 min from Orangeburg, SC. Voorhees College and Denmark Tech are both close by and so is Bamberg, the county seat. Plenty of businesses and restaurants are also close by. A shortage of rentals in the area make this mobile home park very high in demand.
This property includes 2.5 acres, city water paid by the tenants, swear is a septic system which sits off the property and is the responsibility of the county, I am responsible for the pipes on the property and we haven't had any issues in 4 yrs.
There are currently 12 mobile homes on the property. I own ten of them, 2 are tenant owned and they pay $90/month lot fees. The others average only $250/month for an approximate monthly income of $2700/month when fully rented. If run properly, this park is easy to keep fully rented. Units could be fixed up a bit and rents could be increased 10%-20%.
Very inexpensive overhead costs for the owner. $50/month electric bill and $1500/year taxes for the property and the mobile homes combined. Also, the county is extremely easy to deal with concerning moving mobile homes in, dealing with evictions, etc...
In general, the mobile homes are not pretty but they rent out quickly because of the low rent and the lack of housing in the area.
The open side of the park has been approved for at least 10 more spaces.
Only asking $99,000. Looking for a quick transaction, call/text 803-606-0896 and I will explain why I need to sell and please let me know if you have any questions. Thank you!
Park Information
Community Type: | All Age |
Number of MH Lots: | 12 |
Total Occupancy: | 85.0 % |
Year Built: | 1985 |
Average MH Lot Rent: | $250 |
Size: | 3 acre(s) |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Park-Owned Homes
Number of Park-owned Homes: | 10 |
Average Rent for Park-owned Homes: | $250 |