508 Winter Rain Dr Conway, SC 29527

Property Details for 508 Winter Rain Dr

Property type

Mobile home & RV parks

Description

This exceptional investment opportunity presents a portfolio of three well-located mobile home communities in South Carolina and North Carolina. The portfolio comprises 104 pads, boasting a remarkable 96.75% occupancy rate as of May 1, 2024. Priced at $6,900,000, this represents an attractive price per pad of $66,346.15. The properties are strategically situated within a 20-mile radius of each other in high-demand areas, offering significant economies of scale for management and operational efficiencies. The communities are almost entirely comprised of tenant-owned homes, with only 10 park-owned homes, nine of which are currently occupied. Current lot rents average $421, significantly below market rates in the area, presenting a substantial opportunity for immediate revenue growth through rent increases. Analysis indicates that increasing rents to market value could generate over $60,000 in additional annual revenue. The surrounding demographics are exceptionally strong, with an average household income exceeding $75,962 and average home values of $251,589 within a 10-mile radius of each community. This underscores the robust demand for affordable housing in these thriving markets. The properties are being sold as a package and must be purchased together. The portfolio includes locations in Conway and Myrtle Beach, South Carolina, and Fayetteville, North Carolina, with specific addresses provided upon request. This is a rare opportunity to acquire a well-performing, high-growth potential mobile home park portfolio in a desirable location.