Mobile Home Park Details

  • Cap Rate: 10.4%
  • Property ID: 1093926
  • Posted On: Jun 14, 2019
  • Updated On: Oct 1, 2019

Property Description

The MHP Broker brings to you Vogtle RV Park located in the
heart of Burke County, just 35 mins south of Augusta, GA, Vogtle RV Park sits on two parcels totaling 4.19 acres with 33 permitted spaces. This recently built RV community maintains full occupancy year round, and currently has a waitlist. Of the 33 spaces, 29 of them are leased by a single tenant (Tenant #3 on Rent Roll/Inventory) that supplies quality workforce lodging to the Vogtle Electric Generating plant and other local industry. These are attractive, innovative floor plans designed to create a sense of community, rather than a temporary dwelling. For these 29 spaces, a management fee & lot rent are collected monthly by Vogtle RV Park.
The park operates off private utilities, and the well water testing is done monthly by CRSA Analytical Labs, and 1500 gallon septic tanks service 4 sites each. Overall, the park has a very low operating budget, with electricity being the largest annual expense. All sites feature full hook-ups (30 or 50 amp) and underground utilities throughout the park. Amenities include wifi and an on-site laundry building. This RV community has a gravel road throughout the park that is in overall good condition, with minimal repairs needed.
Vogtle RV park makes for a low maintenance, turn-key investment, with great
upside in a growing market that has huge demand for this style of living. Ownership intends to raise rents to $500 or more per month in August of 2019 as inquiries for space are received on a daily basis. This park grossed over $185,000 in 2018, with financials just as strong for the trailing 12 months. We are asking investors to submit offers at, or above $1,200,000 for the entire property. We are looking for cash offers, however, bank debt should be available for this deal.

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 100.0 %
Average MH Lot Rent: $400
Size: 4.2 acre(s)

Financial Information

Gross Income $185,390
Operating Expense $31,841
Net Operating Income $153,549
Expense Ratio 17.2 %
Debt Info

RV Information

Number of RV Lots: 33
Average RV Lot Rent: $400

Utility Information

Water: Well
Sewer: Septic

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