Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 8.1%
  • Property ID: 1577317
  • Posted On: Dec 21, 2021
  • Updated On: Apr 20, 2022

Property Description

With nearly 86% occupancy, 53 POH's and newly paved roads, Peachtree MHC is a stabilized asset with upside.​ With below market rents, POH's with a NADA value of over $750K.​ With 48 occupied units and a current rent roll of $24,560 P/M, Peachtree is generating tremendous cashflow with upside in filing the 5 vacant units and guiding rents to FMV.​
Half the community is city sewer / city water and the city provides garbage pick up.​ With recent cap ex investments in roads and the homes, Peachtree MHC provides an excellent opportunity for growth in the MHP space.​

Location

Located in Macon County, GA

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Park Information

Number of MH Lots: 56
Total Occupancy: 86.0 %

Financial Information (Pro Forma)

Gross Income $294,720
Operating Expense $132,624
Net Operating Income $162,096
Expense Ratio 45.0 %
Debt Info

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 53
Average Rent for Park-owned Homes: $519

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