810 Myrtle RdAndrews, SC 29510

Property Details for 810 Myrtle Rd

Lot size

4.20 AC

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

06-0014-071-00-00

APU

600140710000

Description

This exceptional investment opportunity presents the Mingo River Mobile Home Park, a well-established 30-site community located at 810 W Myrtle Rd, Andrews, SC 29510. The park boasts a diverse mix of 13 park-owned homes, 13 tenant-owned homes, and one lot rented for parking at a rate comparable to tenant-owned homes. Adding to the potential, there are also two vacant lots and one park-owned home currently undergoing remodeling. The park's inventory has been consistently upgraded over time, with several older homes replaced by newer models, enhancing the overall quality and appeal. Municipal water and sewer services are provided, with costs covered by the owner and reimbursed by tenants, which also includes garbage collection. Andrews enjoys a convenient location, approximately one hour and twenty minutes from both Myrtle Beach and Charleston, South Carolina. The Robert F. Swinnie Airport is just two miles from the town's central business district. Kingstree and Georgetown are the nearest larger towns in Williamsburg and Georgetown Counties, respectively. This property is offered at $1,500,000. All inquiries must be handled through the appropriate channels to maintain confidentiality and respect the privacy of residents and staff.

• CAP approach

  CAP return

  Valuation

  6%

  $47,008,644

  6.5%

  $43,392,596

  7%

  $40,293,124

• Comparable approach

  Method

  Valuation

  Relative Method

  $25,351,490

  Geo Method

  $48,020,692

• Alternative Use

  Use

  Valuation

  Residential

  $43,392,596

  Hospitality

  $39,747,384

  Educational

  $33,069,356

  Medical

  $34,206,664

  Retail

  $51,441,220

Location Insight

City

Andrews

County

Georgetown

State

South Carolina

Latitude

33.4455

Longitude

-79.5763

CBSA code

23860

CBSA name

GEORGETOWN, SC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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