Property Description:
The Glen at Union is a low density, esthetically pleasing, wooded, park. It is located on a cul-de-sac at the end of a nice residential neighborhood. The park sits on 4.5 acres and is
located in Union, South Carolina. The park is less than 30 minutes to Spartanburg and Gaffney, 1.5 miles from Union High School, 3 miles to the elementary school, and 4 miles
to the Super Walmart. Union is located in Union County, South Carolina. It is in the Upstate region of South Carolina, on the southern edge of the much heralded Greenville/Spartanburg Corridor.
The property includes 18 pad sites, including 2 Lot renters, 4 rented park owned homes 5 homes that can be fixed, and 7 vacant lots ready for your new homes. As is, it produces a
7%+/- return.
This park has huge upside. Prospective buyers should project revenue, expenses, and cash flow using their own experience and formulas. We have projected fixing the five
fixable homes for $15,000, adding 7 homes at an average cost of $12,000, and raising lot rents slightly. This results in renovation costs of $99,000. On the new basis including the
renovation cost, the percentage return is in the high teens.