For Sale
$600,000

119 Lightsey StHampton, SC 29924

14-unit mobile home park, high occupancy, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 14-unit mobile home park portfolio situated in Hampton, South Carolina, at 119 Lightsey St, zip code 29924. Currently boasting 100% occupancy (as of March 18, 2024), this Class C property offers a compelling value-add proposition. The portfolio generates a current NOI of $54,257, translating to a 9.04% cap rate on the $600,000 asking price. Pro forma projections indicate a significant increase in NOI to $60,701, resulting in a 10.12% cap rate. Each of the 14 pads is priced at $42,857.14. All units are individually sub-metered and tenants are directly billed for utilities. City water and sewer services are available for all units and parcels. The property's strong rental demand and high occupancy rate contribute to its stable cash flow and promising long-term growth potential. The portfolio's APN numbers are: 119-10-07-013.04, 119-13-07-002.01, 119-13-07-002, 120-03-04-008, 119-01-06-001, 119-01-06-001, 119-02-04-002. This is an ideal investment for those seeking a stable, high-yielding asset in a growing market.

Highlights

  • 14 Parking Spaces.
  • City water and sewer service to all units/parcels.
  • Individual submeters with direct tenant billing.
  • 100% Occupancy Rate.
  • High rental demand.

Property Details for 119 Lightsey St

Property type
Mobile home & RV parks
Class
C
Units
14

Location Insight

City
Hampton
County
Hampton
State
South Carolina
Latitude
32.8723452
Longitude
-81.1130677
119 Lightsey St, Hampton, South Carolina

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119 Lightsey St
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