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Mobile Home Park

Westview MHP

304 Judith Ln, Spartanburg, SC 29301

Listing Price: $425,000

Cap Rate
5.13%
Number of Spaces
14
Lot Size
1.68 acres
Occupancy
71.0%
Price/Space
$30,357
Spaces/Acre
8.33
Year Built
1985

Investment Overview

Marcus and Millichap is pleased to present this exclusive listing for the Westview Mobile Home Park. This turnkey, clean, and well-maintained community is located within 4 miles of desirable and growing downtown Spartanburg, SC. Thriving manufacturing, education, healthcare, distribution, and technical industries support a diverse and growing local economy that is quickly becoming one of the fastest growing multi-family markets in the Southeast region. The Westview MHP consists of 9 lot rents, 1 park owned home, 4 empty lots and is situated on 1.68+/- acres. The 4 empty lots are developed and prepared for bringing in additional homes to increase revenue. Utilities include city water and septic systems for sewer. Roads are paved. Community expectations, high majority lot rent, and age of homes supports reduced maintenance costs and preserves community quality and appearance. High occupancy rates, below market rents, ability to add 4 units, and the growth of downtown Spartanburg, make this community an attractive property for investors looking for stable income with upside potential. Residents of Westview Mobile Home Park enjoy the quiet living of the community and easy access to immediate retail and downtown Spartanburg. Combined with convenience to highways 85, 585, 29, and 26, the property is located close to economic generators, such as Amazon, BMW manufacturing, Milliken, Spartanburg Regional Healthcare System, shopping, and various recreational activities. Rent growth potential, established cash flows, ability to add units, and growth of the local and regional markets provide a compelling basis for attractive returns with this investment opportunity.

Investment Highlights

  • Spartanburg is Expected to Grow Over 8% in Next 5 Years
  • Well-maintained Turnkey Community with Established and Consistent Cash Flows
  • Increased Revenue Potential Through Increasing Rents and Adding Units
  • Domestic and International Investment is Bringing Significant & Diverse Growth to Upstate South Carolina

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Mobile Home Park

Westview MHP

Listing Price: $425,000

Cap Rate
5.13%
Number of Spaces
14
Lot Size
1.68 acres
Occupancy
71.0%
Price/Space
$30,357
Spaces/Acre
8.33
Year Built
1985

Investment Highlights

  • Spartanburg is Expected to Grow Over 8% in Next 5 Years
  • Well-maintained Turnkey Community with Established and Consistent Cash Flows
  • Increased Revenue Potential Through Increasing Rents and Adding Units
  • Domestic and International Investment is Bringing Significant & Diverse Growth to Upstate South Carolina

Investment Overview

Marcus and Millichap is pleased to present this exclusive listing for the Westview Mobile Home Park. This turnkey, clean, and well-maintained community is located within 4 miles of desirable and growing downtown Spartanburg, SC. Thriving manufacturing, education, healthcare, distribution, and technical industries support a diverse and growing local economy that is quickly becoming one of the fastest growing multi-family markets in the Southeast region. The Westview MHP consists of 9 lot rents, 1 park owned home, 4 empty lots and is situated on 1.68+/- acres. The 4 empty lots are developed and prepared for bringing in additional homes to increase revenue. Utilities include city water and septic systems for sewer. Roads are paved. Community expectations, high majority lot rent, and age of homes supports reduced maintenance costs and preserves community quality and appearance. High occupancy rates, below market rents, ability to add 4 units, and the growth of downtown Spartanburg, make this community an attractive property for investors looking for stable income with upside potential. Residents of Westview Mobile Home Park enjoy the quiet living of the community and easy access to immediate retail and downtown Spartanburg. Combined with convenience to highways 85, 585, 29, and 26, the property is located close to economic generators, such as Amazon, BMW manufacturing, Milliken, Spartanburg Regional Healthcare System, shopping, and various recreational activities. Rent growth potential, established cash flows, ability to add units, and growth of the local and regional markets provide a compelling basis for attractive returns with this investment opportunity.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

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