Contact Information

Mobile Home Park Details

  • Price: $550,000
  • Cap Rate: 9.8%
  • Property ID: 1192091
  • Posted On: Feb 18, 2020
  • Updated On: Mar 19, 2020

Property Description

Well located MHP with plenty of up-side
in a strong and rapidly growing market.
This “mom & pop” park is well maintained
and has below market rents. The park has 31 lots, of which, 25 are park-owned homes tenants
each paying rent at an average $195 plus the average lot rent of
$200, and 6 vacant park owned homes that need to be renovated
at about $5,000 per home.
Oak Meadows Mobile Home Park is an all-ages community and
has private septic and two private wells that is not included in
rents. The privately maintained roads are in average condition
as our offering price suggests. Located in a good location, in the
Hinesville MSA. The Hinesville market has seen a lot of growth
over the last 10 years and is home to Fort Stewart Military Base.
Hinesville is 40 minutes from Savannah, GA and just 20 minutes
or so to the Georgia Coastal areas.

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Park Information

Community Type: All Age
Number of MH Lots: 31
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $124,289
Operating Expense $39,824
Net Operating Income $50,670
Expense Ratio 32.0 %
Debt Info

Utility Information

Water: Well
Sewer: Septic

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