Contact Information

P

Parks Unlimited LLC

Mobile Home Park Details

  • Price: $1,150,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.6%
  • Property ID: 1244373
  • Posted On: Apr 20, 2020
  • Updated On: Jul 24, 2020

Property Description

THIS DEAL CAN BE COMBINED WITH SUNSHINE MHP IN ADEL GA. (JUST 10 MIN AWAY) COMBINED INCOME IS AROUND $471,000. WITH 40% EXPENSES YOUR NOI WILL BE $292,200. VALUE, 9 CAP IS $3.2M. SALE PRICE TOGETHER IS $2.6M

86 lot POH community in the city of Sparks Ga. 45 doublewides, 1 singlewide and 40 vacant lots.

Sewer, water and streets are all owned by the city.

Streets were recently paved.

All lots are individual surveyed lots with water and sewer taps.

45 Doublewides, 1 single The tax value for all the homes is right at $589,000. Across the street, the same exact lot, 100x100, with water and sewer is selling for $20,000 each.

Population within 25 radius is 49,816

More info: https://www.dropbox.com/sh/g2k6x3usqlf9yad/AAD_uZzZXw0-QGC9Jo8_MkVfa?dl=0

Turn this park over to a TOH park, add 40 homes and you will have a $3.6M community.

I can show you how or even do it for you.

Information contained in this document has been obtained from sources believed to be reliable and accurate, It has not been verified and makes no guarantee, warranty or representation regarding it. It is the potential buyers responsibility to independently confirm the accuracy and completeness of property information. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The information contained herein should be independently determined or confirmed and evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Location

The terrain is flat with few trees. The park is surrounded by neighborhoods.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 86
Total Occupancy: 90.0 %
Average MH Lot Rent: $500

Financial Information (Actual)

Gross Income $216,445
Operating Expense $77,443
Net Operating Income $139,002
Expense Ratio 35.8 %
Debt Info none

Lot Information

Doublewide Lots: 86

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 46
Average Rent for Park-owned Homes: $500

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