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Mobile Home Park Details

  • Price: $2,000,000
  • Property ID: 1354931
  • Posted On: Nov 13, 2020
  • Updated On: Jan 4, 2021

Property Description

BONAIRE, GA - Pinewood Village Mobile Home Park is conveniently located close to Warner Robins Air Force Base -- one of three worldwide logistic bases, which employs close to 23,000 military and civil employees, and is the largest single site industrial employer in the state of Georgia.
This quiet, well-established Mobile Home Park (MHP) consists of 68 pads. Historically, this park has had a high occupancy rate and long-term tenancy, and the current occupancy is 99%, maintaining this trend. Of the 68 pads, there are currently 60 lot renters, 6 park-owned homes (POH), and one vacant lot. The vacant lot is ready for occupancy at a market rate of $300 +/- per month.
This park features county water, paved roads that have been well maintained by the county, and a septic system with 34 tanks in good working condition with ownership recently replacing roughly 20 tanks in past 10 years. The park is NOT in a flood zone and is located nearby to beautiful residential communities, commercial businesses and the new Houston County High School just a few miles away.
The Seller raised rental rates to $225 in January 2020 which is still below the market average of $250; offering new ownership an immediate opportunity to increase revenue. This, coupled with the growing and prospering area of Houston County makes this an excellent investment opportunity. Although we do not have an official asking price, we are asking investors to submit offers at, or above, $2,000,000 for the park.

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Park Information

Number of MH Lots: 66
Total Occupancy: 99.0 %
Average MH Lot Rent: $225
Size: 10 acre(s)

Financial Information

Gross Income $172,800
Operating Expense $39,035
Net Operating Income $133,765
Expense Ratio 22.6 %
Debt Info

Utility Information

Water: City
Sewer: Septic

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