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Mobile Home Park Development Downtown Spartanburg
Mobile Home Park Development Downtown Spartanburg! Shovel Ready.
Listing Contacts
Diamond InvestmentsLicense: SC
Active
Asking Price: $315,000
Address
1518 Farley Ave, Spartanburg, SC 29301
Show on MapDate Added
Jan 18, 2024
Days on Market
428 days
Time Since Last Update
18 days
Details
Property TypeMobile Home Park
SubtypeDevelopment, Land, MHP
Investment TypeValue Add
Investment Sub TypeDevelopment
ClassA
Pro-Forma Cap Rate78.10%
Pro-Forma NOI$246,000
Units25
Pads25
Year Built2024
ZoningNA
Lot Size (acres)4.75
Broker Co-OpYes
APN7-11-07-014.00
Price/Pad$12,600
OwnershipLLC
Marketing Description
Diamond Properties is proud to present a rare opportunity to develop a 26-lot mobile home park within blocks from downtown Spartanburg SC. The county has approved plans. Due to county code requirements, streets are to be asphalt which will create an A-class community. Based on market comps, lot rents are projected at $900/mo and a potential stabilized value of $2,275,000 (on lot rent only). Additional income can be factored through taking a piece of each mobile home sold. Do not miss out on this cash-flowing high investment return opportunity!
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Property History
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Due Diligence
Listing Contacts
- Diamond InvestmentsLicense: SC
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