Orangeburg, SC 29115
- N/ABeds
- N/AFull Baths
- N/AHalf Baths
- 1SqFt
- 1984Year Built
- 13.99Acres
- MLS# 19000414
- Multi Family
- Sold
- Approx Time on Market8 months, 24 days
- AreaOrangeburg County
- CountyOrangeburg
- SubdivisionNone
Overview
MHP located less than 4 miles to Orangeburg and I-26. Park currently has 47 spaces each with public water and power paid by the tenant. There are 16 park owned homes 11 are rented. Vacant homes need extensive work. The roads are gravel with some remnants of paving left. There is an old RV park at back end of property. This owner has never operated it but says there was a shower and RV hookup for he thinks around 15. There's wetlands between the 2 areas and RV part needs cleared. Only utility is small power bill for lights. No pets. Rents for spaces are $125 and homes rent for $325 to $450. Competing parks charge $200 lot rent, homes up to $600 for 3 bedroom. Rents for all could easily be increased. Park at 55% occupancy. Owner will finance 25 years at 6% with 25% down. Sold as-isOwner has manager that collects rents and takes calls for him. Park is being sold as-is at $15,000 per space with enough income to keep the new buyer above water until the rental increase or more homes are added. This park has a ton of potential and can easily be turned into one of the nicest parks in the area. Owner financing could avoid a lot of fees for appraisals and origination fees with the bank, plus no need to renew loan every 5 years. Not many owners will take financing this long. Income shown is potential gross with current rents. Actual collected gross was 2016-$53,360 2017-$60,125 and 2018 $61,600.
Sale Info
Listing Date: 01-06-2019
Sold Date: 10-01-2019
Aprox Days on Market:
8 month(s), 24 day(s)
Listing Sold:
4 Year(s), 6 month(s), 17 day(s) ago
Original Asking Price: $705,000
Asking Price: $650,000
Selling Price: $615,000
Price Difference From Original:
Reduced By $90,000
Price Difference From Asking:
Reduced By $35,000
Agriculture / Farm
Grazing Permits Forest Service: Yes
Grazing Permits Private: Yes
Grazing Permits Blm: Yes
Horse: No
Farm Credit Service Incl: Yes
Association Fees / Info
Bathroom Info
Building Info
Year Built: 1984
Business Info
Rent Control: No
Buyer Compensation
Exterior Features
Pool Private: No
Garage / Parking
Gar Pkg: Other (Use Remarks)
Garage: No
Attached Garage: No
Interior Features
Fireplace: No
Lot Info
Lot Size: 13.99
Lot Size Units: Acres
Acres: 13.99
Lot Sqft: 609404.4
Irrigation Water Rights: Yes
Offer Compensation
Other
Mobile Home Remains: Yes
Property Info
Property Type: B
New Construction: No
Building Area Units: Square Feet
View: No
Home Warranty: Yes
Habitable Residence: Yes
Structure Type: House, More than 4
Room Info
Sale / Lease Info
Sold Date: 2019-10-01T00:00:00
Lease Renewal Option: Yes
Lease Considered: Yes
Lease Assignable: Yes
Sqft Info
Sqft: 1
Unit Info
Number of Units Total: 47
Utilities / Hvac
Water Source: Public
Heating: No
Water Sewer: Septic Tank
Cooling: No
Waterfront / Water
Waterfront: No
Directions
From I-26 Take 301 Towards Orangeburg. Go 3.9 Miles And Park Will Be On Right. Look For Green Dogwood Mhp Sign.Courtesy of listing office Brand Name Real Estate
Featured Lender
WHERE DREAMS ARE DEFINED.
RESIDENTIAL MORTGAGE LOAN ORIGINATORS
SONYA L. PITT, RMLO NMLS ID 182524
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