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Covington country MHp 12236 Highway 36, Covington, GA 30014

Off Market   Price Reduced  

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 18.0%
  • Listing ID: 678692
  • Posted On: Jun 17, 2016
  • Updated On: Mar 10, 2017

Description

16 lots with 13 units. one unit is being rehabbed and park is getting rent for 12 units now. there is room to add 3-4 more lots..park is on county water and septic....owner pays water. park is zoned c-3 or general commercial. this park is ugly but makes money...will net over 40k this year plus big upside. Owner wants offers but he's firm around $210k all cash.WILL NOT FINANCE SO DON'T ASK!

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Park Information

Community Type: All Age
Number of MH Lots: 16
Total Occupancy: 90.0 %
Year Built: 1985
Average MH Lot Rent: $500
Size: 2 acre(s)

Financial Information

Gross Income: $66
Operating Expense: $13
Net Operating Income: $52
Expense Ratio: 19.7 %
Debt Info: NONE

Lot Information

Singlewide Lots: 12
Doublewide Lots: 2

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $450