Pine Ridge MHC
245 Bent Tree Cir, Gaston, SC 29053
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Investment summary
Total Lots82
Vacant Lots4
Tenant Owned Homes54
Occupied Park Owned Homes18
Rent-to-Own Homes6
Average Lot Rent$463
Executive summary
Pine Ridge is an 82-lot mobile home community located in Gaston, South Carolina, about 11 miles southeast of the state capital, Columbia. It is also situated just 10 miles from The University of South Carolina, one of the top colleges in the entire state. The current average lot rent is $463. The community is serviced by private well water and septic (included in rent) and dumpster trash (billed back).
Pine Ridge has 18 park owned homes (17 are new) and 6 rent to own homes that are between the ages of 2020 and 2021, giving an investor the opportunity to capture some of the upside in selling these units during the hold period. We are offering this community at $5,300,000, which includes those 23 new homes delivered free and clear at closing or an investor could assume the current chattel loans.
Bang Realty-South Carolina Inc | License No. 108250
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Investment highlights
Convenient location
Pine Ridge MHC is conveniently located near US Highway 321, providing residents with easy access to downtown Columbia, South Carolina (~11 miles), which is home to the University of South Carolina (~10 miles away). The institution is ranked No. 2 in Best Colleges in South Carolina (niche.com).
Rent upside
Per our rent survey, Pine Ridge is below the current market rents and gives an investor the opportunity to achieve market rents during the hold period. A community just down the street from Pine Ridge currently charges $615 for rent.
New POH / RTO inventory
There are 23 new homes between the ages of 2020 and 2021.
Utilities
Pine Ridge MHC is serviced by private well, and 1:1 septic (included in rent) and dumpster trash (billed back).
Utility Billing Structure
- Water: Private (Included in Rent)
- Sewer: Private (Included in Rent)
- Trash: Dumpster (Included in Rent)
- Electric: Public (Direct Bill)
- Gas: Public (Direct Bill)
Exclusively listed by
Parker Kelly
VP, Manufactured Housing, Investment Sales
Tanner Westerheid
VP, Manufactured Housing, Investment Sales
Matt Skinner
VP, Manufactured Housing, Investment Sales
Nick Ferando
VP, Manufactured Housing, Investment Sales