1156 Russell Drive, Mount Pleasant, SC

$4,100,000

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4.00

Acres

About 1156 Russell Drive

This property is in probate, sale is subject to court approval. This offering reflects an existing mobile home park operating for decades at near full occupancy. The majority of tenants have been vacated to allow for increasing pad rates to market, or for residential redevelopment. The property also includes two residential lots that cannot be used for mobile homes, but offer potential for residential development, or resale to recoup the initial investment in the park.The park is accessed via a gravel road through a 25' strip of land passing between the two lots that is under the same ownership. The lots can be sold separately, but their sale will be contingent upon a closed sale of the mobile home park. Each lot will be reduced in size slightly to increase the park access road to 50'.The park alone has potential value of $3,600,000 at market rates while the lots are priced at $550,000 each. The $4,100,000 list price was set by the court. The pads are individually metered for power; common water is provided by the owner. The site is currently served by on-site septic, redevelopment will require sewer from the Town of Mount Pleasant. All zoning, density, utilities, & school information must be verified by the buyer and buyer's agent. *Please note: Wando and Lucy Beckham high schools are under a phase-in structure through 2023 based on grade level. If high school location is vital, call the school district to verify. TMS#532-03-00-022, 030, 031 & 107

Features of 1156 Russell Drive

MLS® # 22005555
Price $4,100,000
Acres 4.00
Type Vacant Land
Style Mobile Home, Residential
Status Active Contingent

Community Information

Address 1156 Russell Drive
Area 42 - Mt Pleasant S of IOP Connector
Subdivision None
City Mount Pleasant
County Charleston
State SC
Zip Code 29464

Amenities

Has Pool No

Exterior

Lot Description Inside, 2-5 Acres

School Information

Elementary Mt. Pleasant Academy
Middle Moultrie
High Lucy Beckham

Additional Information

Days on Website 211
Zoning Residential

Listing Details

OfficeThe Guerry Group, LLC

Listing Map

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