Contact Information
Nick Lore
Mobile Home Park Details
- Price: Call for Price
- Purchase Method: Cash, New Loan, Assumable Loan
- Listing ID: 6737925
- Posted On: Sep 27, 2024
- Updated On: Sep 27, 2024
Description
We are pleased to present an exciting opportunity to acquire 21 mobile home parks spread across five states, boasting a combined total of 638 sites. These communities are being offered for purchase either as a comprehensive portfolio or as individual assets, allowing potential investors the flexibility to tailor their investment strategy to their preferences. Eleven of the MHPs have a CMBS loan that must be assumed and purchased together as one.
Strategically positioned across North Carolina, South Carolina, Georgia, Alabama, and West Virginia, with an average of 31 sites per MHP, these communities offer operational and management efficiencies for a new investor looking to capitalize on these strategic geographic arrangements.
This opportunity presents a promising value-add proposition within the manufactured housing community sector. The potential for enhancement and increased value exists through strategic improvements, management optimization, or other value-creating initiatives. Investors have the chance to capitalize upon the growth and improvement potential within the manufactured housing sector through this meticulously curated investment opportunity
Location
21 parks located in five states.
Alabama 9 parks
Georgia 5 parks
North Carolina 3 parks
South Carolina 3 parks
West Virginia 1 park
Park Information
Number of MH Lots: | 638 |
Total Occupancy: | 89.0 % |
Financial Information (Pro Forma)
Gross Income: | $2,177,463 |
Operating Expense: | $576,436 |
Net Operating Income: | $1,601,027 |
Expense Ratio: | 26.5 % |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |