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SHADY LANE MOBILE HOME PARK 2114 Highway 41 South, Cordele, GA 31015

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 11.0%
  • Listing ID: 416004
  • Posted On: Nov 22, 2013
  • Updated On: Jul 1, 2015

Description

90-space Mobile Home Park on 10 acres, with pond. Very nice clean quiet park. 73 Tenant-Owned Homes; 9 Park-Owned HOmes; 8 vacant spaces with all Hookups ready for a home to be installed. Onsite Manager, good Tenants that pay extremely well. City Water & Sewer; All Utilities direct-billed to tenants. Park pays no utilities. This is a great price for a park that is operating very well & still have Upside. Please do not disturb Manager or Tenants. CALL WITH ANY QUESTIONS.
Located right on the outskirts of town on Highway 41 South. There are 2 entrances.

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Park Information

Community Type: All Age
Number of MH Lots: 90
Size: 10 acre(s)

Financial Information

Gross Income: $198,300
Operating Expense: $42,007
Net Operating Income: $156,293
Expense Ratio: 21.2 %

Lot Information

Singlewide Lots: 60

RV Information

Average RV Lot Rent: $150

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 9
Average Rent for Park-owned Homes: $500

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