Contact Information

Mobile Home Park Details

  • Price: $1,550,000
  • Cap Rate: 9.2%
  • Property ID: 1584609
  • Posted On: Jan 11, 2022
  • Updated On: Jan 26, 2022

Property Description

Listing Broker : Eric Wanck
Contact Eric Wanck : +1-678-932-0200
HEARD COUNTY, GA - The MHP Broker is proud to present this well-maintained 2-park portfolio in Franklin, GA. In total, there are 51 permitted pads, and 41 park-owned homes. Franklin is centrally located within a 30-minute drive to Carrollton, Newnan, and LaGrange, GA, making this an excellent place for families to call home and commute to work. These parks are cash cows with strong weekly collections and historical occupancy at 95%+.

Creekside MHP is a quiet and well maintained community featuring 33 permitted pads on 17.42 acres. Ownership has operated the park for years with 21 homes, and upside remains for the next investor to bring in additional units. While permitted for 12 more homes, the lots will need full infrastructure. The community operates off city water and 2:1 septic. Water is paid by the park and billed back to each tenant. Tenants are also charged a flat fee of $35/month for lawn care, lights, and trash. Roads and driveways are paved throughout and in excellent overall condition.

Arbor Place MHP is a 18 pad park residing on 5.24 acres. This park also features city water (master meter), septic, and paved roads. Dumpsters are present at both parks for trash. Arbor Place is 100% occupied, and ownership rarely advertising to fill vacancies. Neither park has any deferred maintenance and are turnkey operations. Tenants are charged a flat $55/month covering street lights, garbage, septic and lawn care. The park-owned home inventory in both parks is well maintained annually, with mid '90s being the average age. All homes but one are 3 bed/2 bath featuring central heat and air.

This listing also includes an adjacent 5.25 acres of land to Arbor Place. This separate parcel has one SW mobile home on it, rented at $145/week. We are offering the communities at a 9.2% CAP on Lot Rent Only. All home inventory will be included and priced well below replacement value.

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Park Information

Number of MH Lots: 51
Average MH Lot Rent: $217
Size: 28 acre(s)

Utility Information

Water: City
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 41


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