Established mobile home park with 27 total lots. All homes are parked owned. 20 homes currently habitable and rented, 3 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.
Only vacancies are due to rehab and repairs.
Rents are low due to long term tenants. Can be increased.
9.0% cap rate in 2016. Will be over 10% 2017. Can be increased to 11% by charging tenants for water.
9 homes on septic, the other 12 are county sewer.