Roebuck Woods

Roebuck Woods is a 42-site mobile home community located in Roebuck, South Carolina, just outside of Spartanburg and within the growing Greenville/Spartanburg MSA. The area benefits from strong industrial and residential growth with continued expansion along the I-85 corridor, driving high demand for affordable housing. This acquisition is a bolt-on to our existing Greenville-Spartanburg Portfolio, growing our regional footprint to 383 sites while leveraging our established management team, home sales infrastructure, and operational efficiencies already in place.

The property was developed in 1991 by the seller, who built the sites and installed new homes as rentals. As a result, Roebuck Woods historically operated more like a portfolio of individual rentals than a unified community. Today, 38 of the 42 homes are park-owned. The property is split across two adjacent sections – Carolina Drive and Fortune Drive – and features concrete streets, mature trees, city water with direct-billed meters, and 1:1 septic systems. Occupancy at closing was approximately 90% (38 of 42), with four vacant park-owned homes and current rents ranging from roughly $600-$950/month depending on tenure.

Our business plan is straightforward. We will transition management and move tenants onto BoaVida standard month-to-month leases. The team will rehab and occupy the four vacant park-owned homes within the first 90 days to reach 95% occupancy, raise the tree canopy, patch the concrete roads, and implement a proactive septic maintenance program. And rents will gradually be brought up to market, with the first increase scheduled for June 1, 2026.

By executing this plan and increasing rents to market over the next five years, we will be able to increase the value of the property to over $2.6M and achieve a projected IRR of 18.2% for our investors.