- Lots: 146
- Investment Type: Stabilized
- Total Tenants: 140
- MSA/St: SC
- Utility: Mixed
- POH: 140
Executive Summary
Park 1:
Newly renovated manufactured housing community. The community is situated in a designated opportunity zone. Park 1 consists of 80 new (2020 models) park-owned homes. The community is turn-key ready, operating with above market rents with opportunity to increase revenue through expansion. Grandfathered and surveyed for an additional 91 sites, 28 of which already have infrastructure in place and are home ready, with remainder ready for the addition of infrastructure by a new owner. Additional 20 acres of wooded timber value in rear of property. Upon completion of parks makeover rents were increased to $685 on January 1, 2021. Utilities consist of county water, public sewer, and contracted trash pickup with individual roll out containers for each home.
Park 2:
Newly renovated manufactured housing community. Located in the Florence MSA, in Darlington County, South Carolina. Park 2 contains 66 home lots with county water and septic sewer. In the community, there are 61 new (2020 models) singlewide homes and 4 recently renovated used single-wide homes. Monthly rent varies from $725 for a new single-wide unit and $550 for a used home. Tenants are responsible for all utilities.
Park Overview
- Lots: 146
- MHP Lots: 146
- Tenants: 140
- Occupancy Rate: 95.9%
- Current Average POH Rent: $695
- Gross Income (All Income Sources): $1,161,720
- Gross POH Income: $1,161,720
- Water Info: Public - Direct Bill
- Sewer Info: Public | Septic
- Flood Zone Info: Not in flood zone
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