8460 Old Percival Rd Columbia, SC 29223

Property Details for 8460 Old Percival Rd

Lot size

3.13 lot acres

Property type

Mobile home & RV parks

APN

R22602-02-03

Description

This exceptional investment opportunity presents a fully occupied 13-pad mobile home park situated on 3.13 acres in Columbia, South Carolina. Boasting 100% occupancy (as of October 31, 2024), the park generates a strong NOI of $85,820, representing an 8.58% cap rate. Pro forma NOI is projected at $95,946, yielding a 9.59% cap rate, reflecting significant upside potential. The property features 13 park-owned homes, all in excellent condition, currently rented at an average of $331 per month. The average all-in rent for comparable properties is $1,056, presenting a substantial opportunity to increase rental income by raising rents to market levels. This would add over $41,000 in annual revenue. Further value-add potential exists through the installation of sub-meters for water/sewer billing. The park is conveniently located near I-20, providing easy access to major markets, and benefits from a strong local economy driven by the University of South Carolina, Fort Jackson, and diverse employers. The property is serviced by city sewer and well water, and features an attractive layout with off-street parking and mature trees. Recent capital improvements include approximately $8,100 spent on rehabilitating two units. The property's location within a thriving community with high average household incomes and home values underscores its strong investment potential. The asking price is $1,000,000, or $76,923.08 per pad. The property's APN is R22602-02-03. This is a rare opportunity to acquire a stable, high-performing asset with significant upside potential in a desirable market.