We are pleased to present an exceptional investment opportunity in Gray Court, South Carolina, comprising 24 mobile homes over 25 lots with no restrictions. This portfolio offers a rare chance to acquire both the land and the homes, (21 single-wide and 3 double-wide homes), providing an investor with the benefits of property ownership and long-term revenue potential. With minimal vacancy rates and a strong, stable rental income stream, supported by a professional management company that has expertly maintained the property for over a decade. this portfolio is an ideal addition to any real estate investment strategy. Situated in the rapidly growing Upstate region of South Carolina, Gray Court offers an attractive environment for renters due to its proximity to larger cities, affordable living costs, and a burgeoning local economy. Gray Court is part of Laurens County, which has seen steady population growth in recent years, driven by its affordable housing market and proximity to Greenville-Spartanburg—one of the fastest-growing metro areas in South Carolina. The property is located just off major highways, offering convenient access to I-385 and I-26, making it an ideal choice for commuters working in nearby cities like Greenville (approximately 30 miles north) and Spartanburg (40 miles northeast). Gray Court benefits from its proximity to the region’s manufacturing and logistics hubs, with industries such as automotive manufacturing, distribution, and healthcare contributing to local job growth. The expanding industrial base supports a steady demand for affordable housing options in the area. This 24-unit mobile home portfolio offers an unparalleled investment opportunity in an emerging market with strong demand for affordable housing. With steady cash flow, minimal vacancy, and the ability to own both the land and homes, this portfolio is positioned for strong long-term returns.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,200,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,760,000 | $1,760,000 | $1,760,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.110% | 6.735% | 6.680% |
Monthly Tax Payment | $1,158 | $1,158 | $1,158 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,415 | $11,269 | $15,331 |
Total Monthly Payment | $12,698 | $12,552 | $16,614 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.