Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.0%
  • Listing ID: 111329
  • Posted On: Dec 11, 2011
  • Updated On: Dec 16, 2012

Description

A 63 pad MHP with room to grow. Eight are pad rents @ $185 per month, last increase was in 2001. Fifty-five are owner rentals, 16 double wides and 39 single wides, most are 3bed/2bath and are 1995-2000. Some are smaller 2/1 in the late 1980's. The park has a 2 acre pond, homes are all skirted, the roads are paved, and the manager lives on premiss 24/7 with a home/office together so the park stays quiet, and is a quality place to live for families. Many of the homes have been remodeled with wood floors in the living areas, new carpet in the bedrooms. With serious interest, more pictures can be sent out on specific homes of interest. The sale is confidential so please do NOT talk to the manager, contact directly Jeff Orr @ 404-790-8866. Some owner finance may be possible.

Location

Located 3 miles south of Downtown Milledgeville, in the Lake Sinclair area in Baldwin County, the Park is in the city limits.

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Park Information

Community Type: All Age
Number of MH Lots: 63
Total Occupancy: 92.0 %
Year Built: 1997
Average MH Lot Rent: $185
Size: 16 acre(s)

Financial Information (Actual)

Gross Income: $280
Operating Expense: $65
Net Operating Income: $214
Expense Ratio: 23.2 %

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 55
Average Rent for Park-owned Homes: $450