0 Salty Lane

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30815744
Property Subtypes: Mobile Home Park
Status: Pending
Number of Units: 8 Units
Building Size (RSF): 2,500 SF
Gross Building Area: See Agent
Sale Price: $93,000
Unit Price: $11,625 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 12.3%
Last Updated: 9/12/2022

Overview / Comments

Mobile Home lots up n running and looking for a new investor to add to their portfolio! This 5.74 acre tract consists of 7 (appx .5 acre) lots. 6 lots are cleared set up. There are currently 5 mobile homes in place (tenants own the homes and rent the land). This property is nice and clean! 1 lot is vacant right now and the 7th lot has not been cleared but has previously passed a Perk test! So, you could clear and get that lot in operation as well!Each lot has a private septic system in place. Current owner has owned since the 80's and has not raised rent in over a decade. He currently receives $140 lot rent per month = $980 *Similar lots in the area comp at $200 - $225 per lot per month, so rent could definitely be adjusted! Renting all 8 lots at Fair current fair market would be an $1,575 per month income!! Putting this investment at an over 22% CAP RATE!! A fantastic ROI. Dirt roads are maintained by the county! Water source is public! Split lots in half and double lots doubling income? Place some of your own mobile homes? Great opportunity, go check it out! LIST AGENT IS RELATED TO SELLER

Additional Details

Nearest MSA: Orangeburg
County: Bamberg
Tax ID/APN: 0086-00-00-070.
Year Built: 1980
Sewer Type: Septic

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,948 7,544
Median Age: 41.01 35.73
Households: 1,190 2,640

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