8947 Salamander RdNorth Charleston, SC 29406

Property Details for 8947 Salamander Rd

Year built

1960

Lot size

2.30 AC

Property size (Sq ft)

1,053 SF

Property type

Mobile home & RV parks

APN

486-09-00-001

APU

4860900001

Description

This exceptional 12-unit mobile home park presents a compelling investment opportunity in North Charleston, South Carolina. Priced at $997,000, this property boasts a strong 8.05% capitalization rate and a net operating income (NOI) of $80,246. Situated on a 2.3-acre lot at 8947 Salamander Rd, 29406, the park enjoys convenient access to I-26 and the retail hub on Rivers Avenue. The park comprises 10 mobile home pads, 7 park-owned homes, and 2 tenant-owned homes, along with 2 single-family rentals and one vacant lot. Built in 1978, the property features city water and sewer, with individual meters for each home, although the master meter is currently billed back to tenants. Trash services are included in property taxes and managed by the city. Tenants are responsible for electricity and landscaping maintenance. The park features a private paved road and ample off-street gravel parking. The well-maintained property offers potential for rental increases, further enhancing its investment appeal. This is a turnkey opportunity for an investor seeking a stable, high-yield asset in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $270,563

  6.5%

  $249,751

  7%

  $231,911

• Comparable approach

  Method

  Valuation

  Relative Method

  $145,913

  Geo Method

  $276,388

• Alternative Use

  Use

  Valuation

  Residential

  $249,751

  Hospitality

  $228,770

  Educational

  $190,334

  Medical

  $196,880

  Retail

  $296,076

Location Insight

City

North Charleston

County

Charleston

State

South Carolina

Latitude

32.9676

Longitude

-80.0733

CBSA code

16700

CBSA name

CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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