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Mobile Home Park

Palzita Lane MHP

Palzita Ln, Summerville, SC 29485

Listing Price: $1,150,000

Cap Rate
7.67%
Number of Spaces
10
Lot Size
2.00 acres
Occupancy
100.0%
Price/Space
$115,000
Spaces/Acre
5.00
Year Built
2000

Investment Overview

Marcus & Millichap is pleased to present for sale Palzita Lane Mobile Home Park, located just outside Summerville, South Carolina. Palzita Lane MHP is a 10 Pad Mobile Home Park with each Pad on separate +/- .25-acre parcels. The park consists of eight Park Owned Homes, one tenant owned home, and one rent to own home. The park is on well water, city sewer, and is sub-metered for electricity. Tenants are responsible for electric and trash while ownership pays for sewer. Current ownership has recently fully renovated three park owned homes with new hardwood floors, kitchen, and bathrooms. All units have had roofs replaced in the past 5 years and have central HVACs (Four units with new HVAC). The property also has a new gravel driveway and fencing. This is an opportunity for an investor to acquire a well-maintained asset and increase rents. With each Mobile Home on its +/- .25-acre parcel ownership also has an opportunity to plan a future development or sell the homes off individually. Similar Mobile Homes on .25-acre lots have been trading $130,000 to $145,000.

Investment Highlights

  • Recently Renovated
  • Ability to Increase Rents
  • High Barrier to Entry & Rapidly Expanding Market

Exclusively Listed By

Mobile Home Park

Palzita Lane MHP

Listing Price: $1,150,000

Cap Rate
7.67%
Number of Spaces
10
Lot Size
2.00 acres
Occupancy
100.0%
Price/Space
$115,000
Spaces/Acre
5.00
Year Built
2000

Investment Highlights

  • Recently Renovated
  • Ability to Increase Rents
  • High Barrier to Entry & Rapidly Expanding Market

Investment Overview

Marcus & Millichap is pleased to present for sale Palzita Lane Mobile Home Park, located just outside Summerville, South Carolina. Palzita Lane MHP is a 10 Pad Mobile Home Park with each Pad on separate +/- .25-acre parcels. The park consists of eight Park Owned Homes, one tenant owned home, and one rent to own home. The park is on well water, city sewer, and is sub-metered for electricity. Tenants are responsible for electric and trash while ownership pays for sewer. Current ownership has recently fully renovated three park owned homes with new hardwood floors, kitchen, and bathrooms. All units have had roofs replaced in the past 5 years and have central HVACs (Four units with new HVAC). The property also has a new gravel driveway and fencing. This is an opportunity for an investor to acquire a well-maintained asset and increase rents. With each Mobile Home on its +/- .25-acre parcel ownership also has an opportunity to plan a future development or sell the homes off individually. Similar Mobile Homes on .25-acre lots have been trading $130,000 to $145,000.

Exclusively Listed By

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