Current Use by Public Records
- Mobile home & RV parks
Property Details for 119 Lightsey St
- Property type
- Mobile home & RV parks
Description
This exceptional investment opportunity presents a 14-unit mobile home park portfolio situated in Hampton, South Carolina, at 119 Lightsey St, zip code 29924. Currently boasting 100% occupancy (as of March 18, 2024), this Class C property offers a compelling value-add proposition. The portfolio generates a current NOI of $54,257, translating to a 9.04% cap rate on the $600,000 asking price. Pro forma projections indicate a significant increase in NOI to $60,701, resulting in a 10.12% cap rate. Each of the 14 pads is priced at $42,857.14. All units are individually sub-metered and tenants are directly billed for utilities. City water and sewer services are available for all units and parcels. The property's strong rental demand and high occupancy rate contribute to its stable cash flow and promising long-term growth potential. The portfolio's APN numbers are: 119-10-07-013.04, 119-13-07-002.01, 119-13-07-002, 120-03-04-008, 119-01-06-001, 119-01-06-001, 119-02-04-002. This is an ideal investment for those seeking a stable, high-yielding asset in a growing market.
Value Estimations
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hampton
- County
- Hampton
- State
- South Carolina
- Longitude
- -81.1131
- Latitude
- 32.8723
