Andy Ct & HWY 41
±6.57-Acre, 19-Lot Mobile Home Park | 10.62% Cap, Free & Clear | Gresham, SC
Marketing description
Freedom Commercial presents Oakridge Mobile Home Park, a ±6.57-acre, 19-lot manufactured housing community in Gresham, SC, offered free and clear at $475,000 for a roughly 10.62% in-place cap rate on $51,240 NOI.
The park sits on a corner at Highway 41 South and Oakridge Road, with frontage and access on both, spread across three contiguous parcels (TMS 1590000095000, 1590000055000, 1590000057000). Income comes from a mix of park-owned homes and tenant-owned homes on rented lots; direct rent plus low-maintenance lot rent. Two lots are currently vacant, offering immediate lease-up upside for an operator ready to place additional homes.
A standout for value-add buyers: five units are already on active rent-to-own contracts. As those season and convert, the ownership mix shifts toward tenant-owned homes, cutting repair exposure while preserving lot income.
Expenses are simple and predictable: water, garbage, taxes, grounds, insurance, repairs, electric, and a light management allowance. With no pool, laundry, or elevator, there are no capital-intensive amenities to maintain, and the expense ratio sits near 29%.
Manufactured homes make up roughly 33% of Marion County's housing stock, so this is an established, locally proven housing type. Rental vacancy is tight at about 5%, and area median gross rent near $651/mo sits above the park's typical rents, supporting both affordability and rent-growth potential.
Location anchors the demand story: ~30 minutes to Conway, ~45–50 minutes to Myrtle Beach and the Grand Strand, ~45 minutes to Florence (medical, retail, I-95/I-20), and ~25 minutes to the City of Marion. Fuel, a dollar store, dining, and the post office are all within a few minutes of the entrance.
Contact Clay Davenport, Senior Associate, Freedom Commercial Real Estate [email protected] | (864) 642-5772.
Investment highlights
- 0.62% cap rate, free and clear: $475,000 / $51,240 NOI, no debt in place; a clean entry for a 1031 or first-time park buyer
- ±6.57 acres, dual road frontage: corner of Hwy 41 South & Oakridge Rd across three contiguous parcels with two access points
- 19 lots, blended income: park-owned homes plus tenant-owned lot-rent units balance cash flow and low-maintenance stability
- 5 units on active rent-to-own: built-in value-add path that converts renters to owners and sheds maintenance liability
- Lean ~29% expense ratio: utilities, grounds, taxes, light management only; no pool, laundry, or elevator
- Two vacant lots = immediate upside: near-term lease-up potential in a county where manufactured homes are 33% of housing stock and rental vacancy runs ~5%
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
