1087 Reynolds Pond Rd - Manufactured Housing/Mobile Housing FOR SALE


Aiken, SC 29801
$1,680,000 USD
213-927-2117
1087 Reynolds Pond Rd, Aiken, SC for Sale
$1,680,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/21
null | 7.13% Cap Rate

1087 Reynolds Pond Rd
Aiken, SC 29801


HIGHLIGHTS

  • 158 mobile home lots, offering a significant opportunity for investors looking to invest in a growing Aiken, South Carolina community.
  • Significant value-add opportunities through upgrading infrastructure, modernizing facilities, enhancing the overall tenant experience, and more.
  • Priced below 2006 appraisal and area comps, providing an attractive entry point for immediate equity and long-term appreciation potential.
  • Immediate upside through the renovation of existing mobile homes (MH) and a long-term strategy to infill vacant lots.

OVERVIEW

The Weico Rentals MHC Portfolio consists of 158 mobile home pads located in Aiken, South Carolina, spanning eight communities. All properties are conveniently located within a 5-mile radius of the central office. The portfolio is being sold below South Carolina comparable sales, below the 2006 per pad appraisal value, and offers substantial value-add potential, with opportunities to raise rents to market levels and fill vacant pads. Please download the offering memo to find out about scenarios for gradual or immediate property value-add scenarios, and possible loan assumption of seasoned debt almost two decades into a 30-year amortization schedule with a high proportion of principal paid monthly. Located near Augusta, Georgia, and North Augusta, South Carolina, this portfolio benefits from a thriving rental market characterized by notable growth. Aiken is renowned for its vibrant downtown, rich cultural scene, and dynamic equestrian life, making it an attractive destination for residents and investors alike. The Weico Rentals MHC Portfolio has been undermanaged by under-funded out-of-state passive investors and is priced at 1/3 the average price per lot compared to the most recent similar South Carolina mobile home parks sold. It presents a substantial repositioning opportunity. This can be done all at once or in a phased approach. With some or many improvements, new ownership can significantly or massively increase rental income and overall property value. Note: This property is being marketed to principals only. Agents are welcome to inquire, but buyers will be responsible for any real estate commissions.

FOR SALE DETAILS

PRICE

$1,680,000 USD

PRICE/SF

$11 USD /SF

# OF UNITS

158

PRICE/UNIT

$10,633

CAP RATE

7.13%

% LEASED

45%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

158 Space MHP - Weico Rentals

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

55 AC

LAND SF

2,395,800 SF

ZONING

UD - Urban Development

APN/PARCEL ID

103-12-03-001,118-17-01-002,119-05-01-006,119-05-17-004,119-06-02-016,119-09-01-002,119-13-02-006,153-15-03-003,153-18-01-007

ASK ABOUT THIS PROPERTY

Wolf BaschungMW Real Estate GroupMore Info
213-927-2117

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Wolf BaschungMW Real Estate GroupMore Info
213-927-2117

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.