Contact Information

Mobile Home Park Details

  • Price: $4,250,000
  • Property ID: 1490093
  • Posted On: Aug 4, 2021
  • Updated On: Aug 17, 2021

Property Description

Listing Broker :- Ryan Ramseur
Contact Ryan :- +1-678-932-0200

Foothills Community Mobile Home Park (MHP) is in the strong and growing demographic area of Cleveland, Georgia. This Northeastern Georgia county has been affectionately referred to as “The Gateway to the Mountains” and is home to an able-bodied work force rooted in industrial manufacturing and tourism. With five highly-rated wineries, golf courses, breathtaking mountain views, fly fishing, mountain biking and hiking, there is no shortage of outdoor activities for those seeking adventure or relaxation.
This community offers 54 spaces with a stable year-round occupancy of 90%+. This park resides in a well-traveled area for vacationers right-off of US 129, and is conveniently located just 35 minutes North of Gainesville and 40 miles North of Cumming.
This beautiful park is thriving with a consistent revenue stream and high occupancy. Of the 54 lots, there is one tenant-owned home (TOH), 51 park-owned homes (POH), and 2 vacant lots. Two of the POH's are doublewides, with the remaining inventory being single-wide homes. Most of the homes are less than 3 years old, with the oldest being a 2014 model.
Foothills Community MHP has undergone major renovations over the last two years. The majority of 2020 was spent installing new trailers with decks and skirting, paving the roads, installing new water meters (direct billed) and new septic tanks. These improvements to the park have resulted in a more permanent tenant base, with a strong sense of pride in ownership. Opportunities for new ownership exist in raising rents, reducing management/landscaping expenses, and enjoying a stable income stream.
Current lot rents are $350/month. Market data analysis suggests the market could support $400 ± lot rents per month. The potential to increase rent offers a tremendous investment opportunity in one of the premier mountain locations in Georgia.
We are asking investors to submit offers at, or above, $4,250,000 for Foothills Community. Please inquire for additional information.

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Park Information

Number of MH Lots: 54
Total Occupancy: 90.0 %
Average MH Lot Rent: $350
Size: 29 acre(s)

Utility Information

Water: City
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 51
Average Rent for Park-owned Homes: $477

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