For Sale
$1,000,000

8460 Old Percival RdColumbia, SC 29223

13-unit, fully occupied, high-growth potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fully occupied 13-pad mobile home park situated on 3.13 acres in Columbia, South Carolina. Boasting 100% occupancy (as of October 31, 2024), the park generates a strong NOI of $85,820, representing an 8.58% cap rate. Pro forma NOI is projected at $95,946, yielding a 9.59% cap rate, reflecting significant upside potential. The property features 13 park-owned homes, all in excellent condition, currently rented at an average of $331 per month. The average all-in rent for comparable properties is $1,056, presenting a substantial opportunity to increase rental income by raising rents to market levels. This would add over $41,000 in annual revenue. Further value-add potential exists through the installation of sub-meters for water/sewer billing. The park is conveniently located near I-20, providing easy access to major markets, and benefits from a strong local economy driven by the University of South Carolina, Fort Jackson, and diverse employers. The property is serviced by city sewer and well water, and features an attractive layout with off-street parking and mature trees. Recent capital improvements include approximately $8,100 spent on rehabilitating two units. The property's location within a thriving community with high average household incomes and home values underscores its strong investment potential. The asking price is $1,000,000, or $76,923.08 per pad. The property's APN is R22602-02-03. This is a rare opportunity to acquire a stable, high-performing asset with significant upside potential in a desirable market.

Highlights

  • Fully occupied 13-unit mobile home park in Columbia, SC, offering a strong investment opportunity.
  • 100% occupancy (as of October 31, 2024) generates an $85,820 NOI, representing an 8.58% cap rate; pro forma NOI is projected at $95,946 (9.59% cap rate).
  • Significant value-add potential exists through rent increases to market rate ($1,056 average vs. current $331 average), adding over $41,000 in annual revenue.
  • Additional value-add opportunity through sub-meter installation for water/sewer billing.
  • 13 park-owned homes, all in excellent condition; recent capital improvements totaling approximately $8,100.
  • Desirable location near I-20, benefiting from a strong local economy and high average household incomes ($93,100) and home values ($311,837) within a 10-mile radius. Asking price: $1,000,000 ($76,923.08 per pad); APN: R22602-02-03.

Property Details for 8460 Old Percival Rd

Property type
Mobile home & RV parks
Lot Size (sq. ft)
136,343 SF
Units
13

Location Insight

City
Columbia
County
Richland
State
South Carolina
Latitude
34.0731139
Longitude
-80.8980221
8460 Old Percival Rd, Columbia, South Carolina

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8460 Old Percival Rd
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