Description

This is a family park with long term tenants, who have an excellent pay history. The park has 32 acres with 16 acres fully developed. It is well designed with 1/4 acre lots that are secluded among mature Pine and Live Oak Trees. There are three dirt roads, with access onto TyTy Sparks Rd. The Park is well established. The full 32 acres are zoned mobile home park. We have enclosed a map and a lot overview which shows the developed and undeveloped areas. The pump in the primary deep well is less than 4 years old and the backup deep well pump is over 8 years old. The water mains are all 3" PVC.

Layout

There are 5 4 existing lots and all are rented. The park has septic systems and provides water from a primary and backup well system which has a capacity to service 110 customers. The park requires minimal management and has been managed from Macon, Ga..

Revenue

Lot rent since January 2008 is $150 per month which includes water and sewer. The water is not metered. Revenue also comes from 2 renters and 1 bunk house and vending machine. There are two neighbors that own the properties adjacent to our park which buy water from the park. We know that this is a very stable investment. It will defiantly pay for itself and has great potential for further expansion. There is potential to double the income with expansion.

Sales Price

$750,000 Grosses $109,000 per year. Nets $80,000K Background info All but two of the mobile homes in the park are owned by the tenants. These two are rented out for $360 per month They should be sold within a couple of months as there are always people calling to either rent or buy them. . �

Growth

There is room to approx. 30 more trailers. The roads and septic tanks would have to be added. Another source of income is a large building at the front of the property. It could be used as a rec center or even a store.

Most of the residents are Hispanic. Neither my wife nor I speak Spanish. This has not been a problem. Most of the tenants and almost all of the children are bilingual. For the very few times when a clear understanding of information on the sale of a mobile home was needed, one of the bilingual tenants (usually a relative) was able to translate.

Management

My husband does most of the management for the park. The tenants are required to mail their payment to us and most usually send money orders, unless they see my husband in person . We don't have a manager in the park but we do have a few good tenants that call us when something needs attention. We have a reliable lab to take water samples for testing and to refill the chlorine.