Park Terrace Mobile Home Park

Florence, South Carolina

SOLD: $805,000

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Park Terrace Mobile Home Park Community is a 46 space, all age community, located in Florence, South Carolina (Florence County).  There are 24 lot rental homes, 15 park owned homes and 1 vacant lot. The property is well occupied with many long term residents and is being offered on the basis of its current income. County water is directly metered to each unit, the roads are paved and well-mainained, an on-site manager is established, and each home has an 8x8 storage unit. Current NOI is $110,666 and cap rate is 10%.

The average three bedroom apartment rents for the Florence, South Carolina area is $839. Unemployment rate is 5.25%, which is lower than the U.S. unemployment rate of 6.3%. Median home price in Florence is $119,100. 

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Phone: (980) 938-4993

Fax:      (704) 949-2652

NC Lic #: 270402

GA Lic #: 358467

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