Cinnamon Court is an all age 20 space manufactured housing community in Albany, Georgia. There are approximately 19 resident-occupied home sites and one single family home which is currently being used as an office, but could be converted to a rental unit. The income has not been included in the current underwriting because the homes are in a transitory state until purchased by the new owner of this park.

A new owner would be advised to bring in newer homes to increase market value at the community and either renting or selling those to current and/or prospective homeowners. The property has been owned and operated by the lender since the property’s foreclosure in June 2013, so recent lease-up efforts have been minimal and management has been in transition. A traditional owner should be able to increase the value towards market levels.

This is a unique opportunity for investors with experience in rehab projects, with tremendous upside in replacing the older homes and the potential for creativity.