Contact Information

Mobile Home Park Details

  • Price: $900,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 1507678
  • Posted On: Sep 2, 2021
  • Updated On: Sep 2, 2021

Property Description

Easy cash flow opportunity for any investor! Garden Mobile Home Park sits in a prime Stockbridge location just minutes from shopping and schools. This well kept park has 17 sites with 16 park owned homes. Features include: paved road and parking, street lamp, separate utility meters for each home, and each home is connected to county sewer. The park has consistently remained at 100% occupancy and offers a cap rate at just over 11% with room for improving value. PROPERTY IS TENANT OCCUPIED. DO NOT DISTURB TENANTS. Seller also looking to sell two singl family residential homes: 121 Spring St, Stockbridge (98k) and 106 Lake Dr, Stockbridge ($110k).

Location

Input 121 Spring St, Stockbridge GA 30281 into GPS for best route from your location. When approaching the destination, at a 4 way with Spring St and Lambert Dr, the mobile home park will be on the left. Homes are on Spring St and Willow Ct.

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Park Information

Community Type: All Age
Number of MH Lots: 17
Total Occupancy: 100.0 %
Year Built: 1984
Average MH Lot Rent: $585
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $121,625
Operating Expense $21,000
Net Operating Income $100,000
Expense Ratio 17.3 %
Debt Info

Lot Information

Singlewide Lots: 17
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 16
Average Rent for Park-owned Homes: $585

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