Sherwood Mobile Home Park 2215 Hayne St

Marcus & Millichap is pleased to present Sherwood MHC, a 146-unit, stabilized with significant upside, manufactured housing
community investment opportunity with a strong location in an excellent market.
Sherwood MHC is in the heart of Charleston, SC, which has experienced booming growth in all facets and continues to be a thriving metropolitan area. The MSA has experienced roughly 20% population growth from 2010-2023, roughly 167% home appreciation from Q1 2012 to Q1 2024, and has a work force growing 3X faster than the US average. Already one the busiest deep-water ports in the country, SC Ports recently began the purchase of 280-acre industrial waterfront site to create even more cargo capacity. Charleston is home to the state’s only comprehensive academic health system, Medical University of SC, and other notable institutions like College of Charleston, The Citadel, and Charleston Southern University. Charleston is also home to a growing tech industry and hosts over 7 million visitors annually in the tourism space. As of July 2024, Charleston has been ranked the #1 city in the United States by Travel & Leisure for 12 years in a row.
Sherwood MHC is comprised of 145 manufactured housing (MH) lots and 1 office, broken down as follows: 119 tenant owned homes (TOH), 17 rented park-owned homes (POH), 9 vacant MH lots, and 1 office. There is actually a 146th MH lot that is not being capitalized because one double wide currently occupies two lots. The park-owned homes have an average model year of 2013. The average monthly lot rental rate is $481.
The park is serviced by public water and sewer that is billed back to tenants. Trash is serviced by curbside bins and is billed directly to tenants. Electricity is also billed directly to tenants. The roads are paved and in average condition. The park is NOT in a flood zone and is NOT in an opportunity zone.
Pricing guidance will not be given and we are asking investors to submit their best offers. All offers must include price, inspection timelines, list of due diligence required from owners, proof of funds, and relevant real estate experience.