Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 6.8%
- Listing ID: 1588490
- Posted On: Jan 20, 2022
- Updated On: May 16, 2022
Description
**Under Contract
Now accepting backup offers
Stabilized park with great upside potential! 43 Occupied lots with permitting and infrastructure in place for 49. Below market lot rents at 280/month. Approximately 60/40 split with park owned homes vs tenant owned homes.
City water and sewer!
The park is located near multiple major manufacturing businesses including Roper, Shaw, Nissan Brake, Unique Fabrication, and more which create a steady flow of working tenants. The park is also right across the street from a Walmart!
Great value add opportunity by raising rents to market and filling empty lots!
Location
Lafayette GA
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 49 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $280 |
Financial Information (Actual)
| Gross Income: | $217,668 |
| Operating Expense: | $102,726 |
| Net Operating Income: | $114,942 |
| Expense Ratio: | 47.2 % |
Lot Information
| Singlewide Lots: | 49 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 23 |
| Average Rent for Park-owned Homes: | $600 |