747 Seba St
- 3 rented MH lots
- Currently below market lot rent/ upside
- Located on City of Orangeburg sewer, water, gas
- Professionally managed/ owner is 100% absentee
- Additional land included to potentially add more units
Property Description
Three rented mobile home lots. Current lot rents are below market at $240. Current MH lot rents on the market range from $300-350 per month allowing for great upside. The lots are professionally managed and owner is out of state and completely absentee. Only expenses include $604 annual taxes and $50 per unit per month management fee. Current annual NOI of $6,236 representing an existing cap rate of 7%. Proforma NOI of $11,396 with rents at market rate of $300 /lot and adding one lot where a single family home was on the property, but burned down. This could provide immediate income by adding a lot for rent where the home stood. All lots are on public utilities (water and sewer). Ideal for hold and collecting rent and redeveloping as single family spec homes in the future.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $89,900 |
| No. of Units: | 3 |
| Lot Size: | 2.08 Acres |
| Opportunity Zone: | No |
| Price per unit: | $29,967 |
| Property Website | Click Here |
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