Contact Information

Mobile Home Park Details

  • Price: $950,000
  • Cap Rate: 7.5%
  • Property ID: 1234201
  • Posted On: Mar 24, 2020
  • Updated On: Mar 24, 2020

Property Description

https://www.themhpexpert.com/property/town-country-mhc

Contact the listing agent Park Kelly for more information:
(678) 677-9515 parker.kelly@marcusmillichap.com

Out of the 21 mobile home lots, 1 is a rent to own tenant with
a $300 lot rent and another $300 payment for the RTO with 3
years left on that lease. 19 are rented park owned homes with an
average lot rent of $300 and an average home rent of $389.84.
There is 1 vacant lot with full infrastructure in place and also
an occupied 2 bedroom/2 bath single-family house that rents
for $740 a month. The current occupancy of the park is 95.45%.
This deal has upside still left in it through raising the lot rents to
the market rate, which can support $325-$350. The single-family
house is conservatively $200 under the cheapest rental options
in the Dallas, GA area for a 2-bedroom, 2 bath house.

Town & Country is serviced by public water that is sub metered
and billed back to tenants based on individual monthly
consumption. It is also on septic, with a 1:1 ratio. For trash
collection, they are billing tenants back $15 per month. Electric
and all other utilities are direct bill to the tenants.

Location

Located in Dallas, GA, Town & CountryMHC consists of 21 mobile home lots, an office and a single-family house. Dallas, Ga is part of the Atlanta – Sandy Springs – Roswell metropolitan area.

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Park Information

Number of MH Lots: 22
Total Occupancy: 95.0 %
Size: 6 acre(s)

Financial Information (Actual)

Net Operating Income $58,166
Debt Info

Utility Information

Water: City
Sewer: Septic

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