Mobile Home Park
4 Park Portfolio - Spartanburg, SC MSA
150 Chelsea St, Moore, SC 29369
Listing Price: Request For Offer
Investment Overview
We are pleased to present this 4-park portfolio located in the Spartanburg, SC MSA, a stabilized with upside investment consisting of 97 total units.
The Spartanburg, SC MSA is experiencing sustained population growth with a robust and diversified economy. It’s home to several major automotive manufacturing plants including BMW and Michelin, prominent healthcare institutions, and numerous logistics and distribution companies due to its strategic location with access to major highways and railroads. It is also an emerging hub for biotechnology and medical research. In the Spartanburg MSA, approximately 30% of renters are spending more than 30% of their income on housing costs. With population growth of 15% in the Spartanburg MSA and average 2-bedroom apartment rents nearly $1,000, the need for affordable housing is only growing stronger.
The 4-park portfolio has a total of 96 MH lots and 1 single family home (SFH) consisting of 34 tenant owned homes (TOH), 51 rented park owned homes (POH), 7 vacant POH, 4 vacant MH lots, and 1 rented SFH. The average monthly lot rental rate in the portfolio is $289, the average monthly POH rent is $768 including lot rent, and the SFH is rented for $800. All TOH’s, many POH’s, and the SFH are below market. The average age of POH’s across the portfolio is roughly 1991 and they are in average condition.
All parks are serviced by public water that is billed directly to tenants. 3 of the parks are serviced by public sewer that is also billed directly to tenants. Oasis MHP is the only park with septic, and it is maintained by the park and included in rent. All parks are serviced by curbside trash, which is billed directly to tenants at 2 parks and included in rent at 2 parks. Electricity is billed directly to tenants at all parks. The roads at Gateview and Oasis are paved and maintained by the park. They are newly re-paved at Gateview. The road at Chelsea is paved and publicly maintained. The road at Spring Valley is gravel and maintained by the park. There are no flood zones and no opportunity zones.
With high occupancy, below market rents, and an excellent market, this portfolio presents a great opportunity to create more scale or enter with scale into the rapidly growing Spartanburg, SC MSA. We are asking investors to submit their best offers, as no pricing guidance will be given. Not all offers will be countered. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience.
Investment Highlights
- All parks on public water billed directly to tenants
- 3 parks on public sewer billed directly to tenants
- Below market rents
Exclusively Listed By
Broker of Record
Listing Price: Request For Offer
Investment Highlights
- All parks on public water billed directly to tenants
- 3 parks on public sewer billed directly to tenants
- Below market rents
Investment Overview
We are pleased to present this 4-park portfolio located in the Spartanburg, SC MSA, a stabilized with upside investment consisting of 97 total units. The Spartanburg, SC MSA is experiencing sustained population growth with a robust and diversified economy. It’s home to several major automotive manufacturing plants including BMW and Michelin, prominent healthcare institutions, and numerous logistics and distribution companies due to its strategic location with access to major highways and railroads. It is also an emerging hub for biotechnology and medical research. In the Spartanburg MSA, approximately 30% of renters are spending more than 30% of their income on housing costs. With population growth of 15% in the Spartanburg MSA and average 2-bedroom apartment rents nearly $1,000, the need for affordable housing is only growing stronger. The 4-park portfolio has a total of 96 MH lots and 1 single family home (SFH) consisting of 34 tenant owned homes (TOH), 51 rented park owned homes (POH), 7 vacant POH, 4 vacant MH lots, and 1 rented SFH. The average monthly lot rental rate in the portfolio is $289, the average monthly POH rent is $768 including lot rent, and the SFH is rented for $800. All TOH’s, many POH’s, and the SFH are below market. The average age of POH’s across the portfolio is roughly 1991 and they are in average condition. All parks are serviced by public water that is billed directly to tenants. 3 of the parks are serviced by public sewer that is also billed directly to tenants. Oasis MHP is the only park with septic, and it is maintained by the park and included in rent. All parks are serviced by curbside trash, which is billed directly to tenants at 2 parks and included in rent at 2 parks. Electricity is billed directly to tenants at all parks. The roads at Gateview and Oasis are paved and maintained by the park. They are newly re-paved at Gateview. The road at Chelsea is paved and publicly maintained. The road at Spring Valley is gravel and maintained by the park. There are no flood zones and no opportunity zones. With high occupancy, below market rents, and an excellent market, this portfolio presents a great opportunity to create more scale or enter with scale into the rapidly growing Spartanburg, SC MSA. We are asking investors to submit their best offers, as no pricing guidance will be given. Not all offers will be countered. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience.
Exclusively Listed By
Broker of Record

