158 Space MHP - Weico Rentals 1087 Reynolds Pond Rd

The Weico Rentals MHC Portfolio consists of 158 mobile home pads located in Aiken, SC, spanning eight communities. All properties are conveniently located within a 5-mile radius of the central office. The portfolio is being sold below South Carolina comparable sales, below the 2006 per pad appraisal value, and offers substantial value-add potential, with opportunities to raise rents to market levels and fill vacant pads. Please download the offering memo to find out about scenarios for gradual or immediate property value-add scenarios, and possible loan assumption of seasoned debt almost two decades into a 30-year amortization schedule with a high proportion of principal paid monthly.
Located near Augusta, GA, and North Augusta, SC, this portfolio benefits from a thriving rental market characterized by notable growth. Aiken is renowned for its vibrant downtown, rich cultural scene, and dynamic equestrian life, making it an attractive destination for residents and investors alike.
The Weico Rentals MHC Portfolio has been undermanaged by under-funded out-of-state passive investors and is priced at 1/3 the average price per lot compared to the most recent similar SC mobile home parks sold. It presents a substantial repositioning opportunity. This can be done all at once or in a phased approach; we present both. With some or a lot of improvements, new ownership can significantly or massively increase rental income and overall property value.
Note: This property is being marketed to principals only. Agents are welcome to inquire, but buyers will be responsible for any real estate commissions.