Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.4% (Actual)
- Listing ID: 3568887
- Posted On: Aug 24, 2023
- Updated On: Dec 21, 2023
Description
- Incredible Value-Add Opportunity: This property offers an exceptional value-add opportunity with below-market rents. The potential to optimize rental income provides a strategic advantage for investors seeking to enhance the property’s overall return on investment. By implementing a comprehensive strategy, there exists significant potential to capture the increasing demand for quality housing within the growing Macon market.
- Public Utilities and Utility Billing Back: The property benefits from the presence of public utilities, contributing to the ease of management and operational efficiency. Additionally, the property boasts the capability to bill back all utilities to tenants, creating a potential additional revenue stream that can further enhance
the property’s financial performance.
- Room for Expansion: The offering includes an enticing potential for expansion. The property’s layout and configuration offer room for growth and development, providing investors with the unique possibility to optimize the use of space and maximize the property’s potential for long-term appreciation.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 95 |
| Total Occupancy: | 59.0 % |
| Year Built: | 1990 |
| Average MH Lot Rent: | $275 |
| Size: | 26 acre(s) |
Financial Information (Actual)
| Gross Income: | $320,000 |
| Operating Expense: | $76,000 |
| Net Operating Income: | $244,000 |
| Expense Ratio: | 23.8 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 62 |
| Average Rent for Park-owned Homes: | $600 |