120 Sandy Springs LnLexington, SC 29073

Property Details for 120 Sandy Springs Ln

Lot size

9.65 AC

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 38-unit mobile home park and RV park portfolio situated on 9.65 acres in Lexington, South Carolina, within the rapidly growing Columbia MSA. Currently boasting a Class B rating and a 6.79% cap rate, this property offers a substantial net operating income (NOI) of $285,312. Recent rent increases have already boosted monthly income, with further potential for growth. The property benefits from its strategic location, less than two miles from major retailers like Walmart and Lowe's, and proximity to numerous amenities including schools and other retail establishments. Lexington's robust growth in residential, commercial, and industrial sectors ensures strong occupancy and future value appreciation. The property is stabilized, with most capital expenditures completed in June 2023. The current rent roll reflects a recent rent increase to $1,000 per month per unit, significantly increasing gross income. The seller is open to owner financing with a minimum down payment of $2 million, and is seeking the highest and best terms, including a potential 20-year amortization with a three-year balloon payment. Detailed financial information, including the June 2024 rent roll, is available upon request. This property represents a compelling investment opportunity with significant upside potential in a thriving market. The asking price is $4,200,000.

Location Insight

City

Lexington

County

Lexington

State

South Carolina

Latitude

33.9111

Longitude

-81.2038

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