= Required Field.

Already a Member?

Email Address:

Password:

Re-Enter Password:

First Name:

Last Name:

Country:

Zip/Postal Code:

Ext.

Day Phone:

Yes, I want to receive LoopNet's weekly newsletter "LoopNews" and information about LoopNet promotions and special offers.

No Thanks.

By clicking the button above, you are indicating that you have read, understood, and agree to LoopNet's Terms and Conditions.

We will NOT share your email address.
View Our Privacy Policy.

Welcome to LoopNet! Check out the listing below or search over 725,000 other listings.

Select a Property Type

You may enter a US or Canadian location in the following formats:

Zip Code
City, State
State

For additional search options, go to Advanced Search Advanced Search Advanced Search.

e.g. Los Angeles, CA or 91016

Advanced Search

Browse More Listings in Multifamily For Sale, Spartanburg, SC or South Carolina

Multifamily Property For Sale

Fernwood Mobile Home Park

2101 Fernwood Glendale Road, Spartanburg, SC 29307

Price:
$450,000
No. Spaces:
16
Price/Space:
$28,125
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Commission Split:
5%
Cap Rate:
12%
Year Built:
1960
Lot Size:
1.33 AC
Tax ID / APN #:
7-14-00 Parcel 31.01
Find Out More...

Last Verified 10/22/2009 Listing ID 14777914

Highlights

High rate of Return Possible
Resident Manager in Place

Small Starter Park

Description

A well located older Mobile Home Park, with most units recently remodeled. The Park is on the Southeast Side of Spartanburg among apartments and middle income homes. The site is approximately 1.33 acres and contains 16 Mobile Homes, 14 of which are Park Owned. There is a resident manager on site.

South East side of Spartanburg

Financial Summary

Space Mix Information

Debt & Equity Information

Proforma
Year
2007
Scheduled Gross Income
$69,160
Vacancy
$3,460
Effective Gross Income
$65,700
Maintenance
$6,000
Taxes
$1,600
Insurance
$2,600
Other Expenses
$500
Total Expenses
$10,700
Net Operating Income
$55,000
Debt Service
$37,500
Pre-Tax Cash Flow
$17,500
Expenses/Unit:
$765

Description	No. Spaces	Avg. Mo. Rent
14 Park Owned Mobile Homes	14	$5,760
2 Manager Owned Homes	2	$5,760

Map of 2101 Fernwood Glendale Road, Spartanburg, SC 29307 (Spartanburg County)

Hide Map

Contact Listing Broker to find out more details.

Presented by

Biltmore Investments, Ltd.

Request additional information

Contact Listing Broker

Walter McGee (828) 693-0023

Track changes to this property: Watch This Property
Share this listing: Send to Friend; Link to This Listing

Link
Copy the link above and share via email or IM.; Embed This on Your Web Site; Share on Facebook; Share on LinkedIn; Share on Twitter
Additional Options: Print Listing; View Map; Demographics; Research Price; Get Financing

Created 9/1/2006

Additional Information for 2101 Fernwood Glendale Road, Spartanburg, SC 29307

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

Comparable Properties for 2101 Fernwood Glendale Road, Spartanburg, SC 29307

Nearby Recently Sold Multifamily propertiesSearch all recently sold commercial real estate

Duplex/Triplex
/Fourplex
Sold 3Q 2006

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Embed this Listing on Your Website

Multifamily Property For Sale - Fernwood Mobile Home Park

2101 Fernwood Glendale Road, Spartanburg, SC, 29307