Contact Information

Mobile Home Park Details

  • Price: $179,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.5%
  • Property ID: 1547468
  • Posted On: Nov 8, 2021
  • Updated On: Jan 13, 2022

Property Description

Rental income opportunity, 5 mobile homes currently rented and 5 open lots available for lot rental or put your own mobile homes there to rent out. Current income is $2475 for the 5 mobile homes rented so there is room to grow this park. Lots of money has been spent on upgrades and remodels this year so the cap rate is lower than it should be.

Location

Directions: From Tifton head south on I-75 and get off on the Lenox exit, go east approximately 1 mile and the property will be on your right. This is the 10 lots in the back of the mobile home park, someone else owns the front 10 lots.

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Park Information

Community Type: All Age
Number of MH Lots: 10
Total Occupancy: 50.0 %
Average MH Lot Rent: $200
Size: 2 acre(s)

Financial Information

Gross Income $28,800
Operating Expense $11,500
Net Operating Income $17,300
Expense Ratio 39.9 %
Debt Info

Lot Information

Doublewide Lots: 10

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $550

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