Current Use by Public Records
- Mobile home & RV parks
Property Details for 120 Sandy Springs Ln
- Lot size
- 9.65 lot acres
- Property type
- Mobile home & RV parks
- Property subtype
- Campgrounds
Description
This exceptional investment opportunity presents a 38-unit mobile home park and RV park portfolio situated on 9.65 acres in Lexington, South Carolina, within the rapidly growing Columbia MSA. Currently boasting a Class B rating and a 6.79% cap rate, this property offers a substantial net operating income (NOI) of $285,312. Recent rent increases have already boosted monthly income, with further potential for growth. The property benefits from its strategic location, less than two miles from major retailers like Walmart and Lowe's, and proximity to numerous amenities including schools and other retail establishments. Lexington's robust growth in residential, commercial, and industrial sectors ensures strong occupancy and future value appreciation. The property is stabilized, with most capital expenditures completed in June 2023. The current rent roll reflects a recent rent increase to $1,000 per month per unit, significantly increasing gross income. The seller is open to owner financing with a minimum down payment of $2 million, and is seeking the highest and best terms, including a potential 20-year amortization with a three-year balloon payment. Detailed financial information, including the June 2024 rent roll, is available upon request. This property represents a compelling investment opportunity with significant upside potential in a thriving market. The asking price is $4,200,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Lexington
- State
- South Carolina
- Longitude
- -81.2038
- Latitude
- 33.9111
