Mobile Home Park

Kingstree MHC

Listing Price: $475,000

Cap Rate
8.14%
Number of Spaces
18
Lot Size
2.30 acres
Occupancy
100.00%
Price/Space
$26,389
Spaces/Acre
7.83
Year Built
1990

Investment Overview

Priced at $475,000, this property is being offered as a stabilized investment with upside in rents. The pricing represents a cap rate of 8.14% using lot rent income (excluding home rent income) on normalized actuals representing a 44.7% expense ratio. We are asking that investors submit cash offers at or above $475,000. This park may qualify for local bank debt, but using a 65% LTV, 5% interest rate, and 25 year amortization, it provides investors with a 14.6% cash on cash return in the first year of ownership.

Investment Highlights

  • 100% occupancy
  • Public water included in rent
  • POH's have all been improved in the last 18 months

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    Email Glenn

    License(s): GA: 355850

    Charlotte Uptown

  • Dylan Hellberg

    Associate

    (843) 952-2264

    Email Dylan

    License(s): SC: 115377

    Charleston

Listing Price: $475,000

Cap Rate
8.14%
Number of Spaces
18
Lot Size
2.30 acres
Occupancy
100.00%
Price/Space
$26,389
Spaces/Acre
7.83
Year Built
1990

Investment Highlights

  • 100% occupancy
  • Public water included in rent
  • POH's have all been improved in the last 18 months

Investment Overview

Priced at $475,000, this property is being offered as a stabilized investment with upside in rents. The pricing represents a cap rate of 8.14% using lot rent income (excluding home rent income) on normalized actuals representing a 44.7% expense ratio. We are asking that investors submit cash offers at or above $475,000. This park may qualify for local bank debt, but using a 65% LTV, 5% interest rate, and 25 year amortization, it provides investors with a 14.6% cash on cash return in the first year of ownership.

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    Email Glenn

    License(s): GA: 355850

    Charlotte Uptown

  • Dylan Hellberg

    Associate

    (843) 952-2264

    Email Dylan

    License(s): SC: 115377

    Charleston

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