Percival Park MHC 8460 Old Percival Rd

Opportunity to purchase a fully
occupied 13-site manufactured
housing community in the highly
desirable Columbia, SC market.
– The community, serviced by well water and city sewer,
features an attractive layout with off-street parking and
shaded trees throughout.
– Value-add opportunity to raise lot rents to boost
revenue. According to the rent comps on page 4,
the average all-in rent (lot and home) for comparable
properties is $1,056 versus $792 at the subject
community. Moving all tenants up to market rent at
current occupancy levels would add over $41,000 in
additional annual rental revenue for the next owner.
Surrounding apartments and single-family homes are
renting for $1,400+, thus further demonstrating the
below market rents at the subject community.
– Further value-add opportunity to install submeters and
start billing tenants back for their water/sewer usage.
– The offering includes 13 park-owned homes, of which
13 are currently occupied as pure rentals averaging
$331 for the home rent portion. The homes are all
1990s models and in fantastic condition.
– The current owner has spent approximately $8,100 in
total on rehabbing two of the units (including replacing
the HVAC Condenser).
– There is a strong demand for affordable housing in this
market. Within a 10-mile radius of the community, the
total population is 326,621 with average household
income of $93,100 and average home values
of $311,837.