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143 Chelsea Street

$3.19M Loan Secured For Acquisition Of 100 Unit Mobile Home Park Portfolio In Spartanburg SC
FINANCEDMobile Home

$3.19M Loan Secured For Acquisition Of 100 Unit Mobile Home Park Portfolio In Spartanburg SC

$3,187,500

Building Size

Asset Type

Mobile Home

Closing

Jul 30, 2024

AI

The property involved in the transaction is a mobile home park portfolio consisting of 100 units, located at 143 Chelsea Street in Spartanburg, South Carolina. The loan amount secured for the acquisition of this asset is $3,187,500.

Summary of transaction details:

  • Property Type: Mobile Home Park Portfolio
  • Transaction Amount: $3,187,500
  • Address: 143 Chelsea Street
  • Market: Spartanburg, South Carolina
  • Units: 100
  • Loan Type: Acquisition

The deal involved key individuals representing different firms: Chaim Sherwinter and Paul Gilbert are the brokers from Meridian Capital Group, while Dylan Hellberg and Glenn Esterson represent the sales side from Marcus Millichap.

Players

Dylan Hellberg

Marcus & Millichap

Broker

$10.6M

vol

2 deals

Broker

Moore Mobile Home Market Snapshot

Boundary boundary · Mobile Home · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.98%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93