9 Unit Mobile Home Park on 16 Acres in Blacksburg
$475,000
Description:
Calling all investors! Here is a unique opportunity to purchase a turn-key mobile home park located in the city limits of Blacksburg, SC. This park has 9 different units that provide $48,000 in annual rent. Along with the mobile homes, there is a total of 16.33 gently rolling acres, located less than a mile from the I-85 exit. The additional land lays very well and can be developed in accordance with Blacksburg town zoning.
Eight tenants have been living there for over a year, and some have been there for 23+ years (see rent roll document). The owner has the titles to each mobile home, as well as the written leases. Each lease is now on a month-month basis. Age of mobile homes range from 1969 to 2004, but most are in the 80’s. While these homes are older, they are producing a substantial amount of rental income, with great, long-term tenants.
Annual rent is $48,000 with the opportunity to increase. Seven of the nine leases have not raised rents in over 3 years. 2023 property taxes totaled $4,089.56. Tenants are responsible for paying their utilities and maintaining the premises. Each home has its own public water tap and is connected to public sewer. Trash pick-up is also available.
The back property line is fenced and adjoins a small creek, with zero floodplain present. This property is located very close to Milliken and is certainly in the direct path of progress.
NOI = $43,910.44
Cap Rate = 9.24%
Sale Price is $475,000
Call listing agents below for more information. Please do NOT disturb tenants, the inside of the mobile homes will not be available to view during a showing.
Cameron Massey: (864) 357-8859 Cameron@metcalfland.com
Stephen Glenn: (864) 616-4749 Stephen@metcalfland.com