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Address is 180 Irene Way Cohutta, GA 30710

Charlie White

Coldwell Banker Kinard Realty

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IRENE WAY MOBILE HOME PARK

Mobile Home Community for Sale in Cohutta, Georgia

180 Irene Way
Cohutta, GA 30710

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Sale Price: $375,000

Contact Information

Charlie White
Coldwell Banker Kinard Realty

Mobile Home Park for Sale

Number of MH Lots: 10
Size: 4.8 acre(s)
Cap Rate: 12.0%
Purchase Method: New Loan
Status: Active
Property ID: 865935
Posted on: Oct 06, 2017
Updated on: Mar 08, 2018
Price: $375,000

Property Description

HOUSE W/ MOBILE HOME PARK FOR SALE
4.75 Acres in Northwest Georgia with 3 bedroom 2 bath home , a double wide with 3 bedrooms and 2 baths..... then 8 single wide mobile homes all recently renovated and all rented. Tenants pay their own power and also pay $30 per month for water. For more information call 706-264-8867... please leave message and we will return call within one business day.

SALES PRICE $375,000
CAP RATE 12%

ANNUAL RENTAL INCOME : $76,908

EXPENSES
Lost rents ( 10%) $7,690.80

PROPERTY TAXES $1,291
INSURANCE (ESTIMATE) $4,000
GARBAGE SERVICE $1,200
MAINTENANCE $10,250
LAWN SERVICE $1,500
UTILITIES (power ) $1,200
UTILITIES (water ) $3,600

TOTAL ANNUAL EXPENSES $23,041

ANNUAL NET INCOME $46,176
Monthly Net Income $3,848.03

Park Information

Number of MH Lots:10
Total Occupancy:100.0%
Year Built:1980
Average MH Lot Rent: $641
Size:4.8 acre(s)

Financial Information (Pro Forma)

Gross Income$76,908
Operating Expense$30,732
Net Operating Income$46,176
Expense Ratio 40.0%
Debt Info

Lot Information

Singlewide Lots:8
Doublewide Lots:2

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes:10
Average Rent for Park-owned Homes: $641