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$4,900,000
Est. payment /mo
2,019,877 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,019,877 sqft
Price per Sqft $2
MLS Listing ID 31006269
Year Built 1999
Lot Size 46.370 Acres
Acres 46.37
Property Sub-Type Multi Family
Property Description
SANDY HILL & EASY LIVING MOBILE HOME PARK PORTFOLIOFlorence & Darlington, South CarolinaOffered at: $4,900,000 | 120 Pads | 47.58 AcresINVESTMENT HIGHLIGHTS120 total pads across two contiguous parks, both with city water (tenant pays direct on EL) and septic systems. Sandy Hill (Master meter billed via RUBS) and septic systems.Current occupancy: 75%, with significant upside through lot fill and rent optimization. 23 park-owned homes provide additional revenue and potential conversion opportunity to tenant-owned units.Large lot sizes and mature landscaping contribute to tenant retention and long-term community stability.Strong regional demand for affordable housing in Florence MSA with low vacancy and limited competition.Undervalued rents at $613/month average, allowing room for market-based increases.Easy Living has city water with direct billing, owner pays trash, slag roads, 1:1 septic systems. Sandy Hill has city water master metered, 1:1 Septic, owner pay trash, slag roads, RUBs $57 per occupied pad. FINANCIAL OVERVIEWMetric ValueAsking Price $4,900,000Current NOI (est.) $427,114Cap Rate (as-is) 8.7%Potential Stabilized NOI (95% occ.) $651,126 52% 5YPrice per Pad ~$40,833Occupancy 75% (Upside to 95%)Expense Ratio (est.) 35.5%Listing agent is investment partner.Buyer to verify any and all information important to them to their satisfaction.
Location
State SC
County Florence
Exterior
Garage Spaces 240.0
Building
Sewer Septic Tank
Water Public
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Listed by David Benton • Johnson & Wilson Real Estate
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