8460 Old Percival Rd - Manufactured Housing/Mobile Housing FOR SALE


Columbia, SC 29223
$900,000 USD
512-637-1219
8460 Old Percival Rd, Columbia, SC for Sale
$900,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/6
null | 10.66% Cap Rate

8460 Old Percival Rd
Columbia, SC 29223


OVERVIEW

Opportunity to purchase a fully occupied 13-site manufactured housing community in the highly desirable Columbia, SC market. – The community, serviced by well water and city sewer, features an attractive layout with off-street parking and shaded trees throughout. – Value-add opportunity to raise lot rents to boost revenue. According to the rent comps on page 4, the average all-in rent (lot and home) for comparable properties is $1,056 versus $792 at the subject community. Moving all tenants up to market rent at current occupancy levels would add over $41,000 in additional annual rental revenue for the next owner. Surrounding apartments and single-family homes are renting for $1,400+, thus further demonstrating the below market rents at the subject community. – Further value-add opportunity to install submeters and start billing tenants back for their water/sewer usage. – The offering includes 13 park-owned homes, of which 13 are currently occupied as pure rentals averaging $331 for the home rent portion. The homes are all 1990s models and in fantastic condition. – The current owner has spent approximately $8,100 in total on rehabbing two of the units (including replacing the HVAC Condenser). – There is a strong demand for affordable housing in this market. Within a 10-mile radius of the community, the total population is 326,621 with average household income of $93,100 and average home values of $311,837.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$76 USD /SF

# OF UNITS

13

PRICE/UNIT

$69,231

CAP RATE

10.66%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Percival Park MHC

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

PARKING SPACES

13

LAND DETAILS

LAND ACRES

3.13 AC

LAND SF

136,343 SF

ZONING

Residential

APN/PARCEL ID

22602-02-03

ASK ABOUT THIS PROPERTY

Andrew ShihARA NewmarkMore Info
512-637-1219

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Andrew ShihARA NewmarkMore Info
512-637-1219

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