Mobile Home Park Details
- Cap Rate: 4.7%
- Listing ID: 1445499
- Posted On: May 25, 2021
- Updated On: Dec 16, 2021
Description
https://estersonmhcteam.com/property/winterfield-mhp
Winterfield MHP is located in an Opportunity Zone booming city of Columbus GA just south of Atlanta. With quick access to the beautiful downtown and The Chattahoochee Riverwalk, the park provides a clean, safe and affordable option for local residents. The community is located within 2 miles of Walmart and is only minutes away from numerous national and local employers.
Winterfield MHP is 82% occupied and comprised of 77 total lots, and has an expansion area that can fit an additional 25 lots (+/-) after receiving municipal approvals. The park has 34 TOH’s and 38 POH including 9 vacant homes. The community has public electric, water, sewer & trash all of which is directly billed to the tenant.
We are asking that investors submit offers at or above $3,500,000, which represents a 4.74% cap rate on current lot rental income with a proforma caprate of 11.63%. The park has paved roads and is located in an opportunity zone.
Winterfield MHP should qualify for a conventional, recourse bank financing at a 5% interest rate, 75% LTV, and 25-year amortization with a year or two of interest only
Park Information
Number of MH Lots: | 77 |
Total Occupancy: | 81.8 % |
Size: | 29 acre(s) |
Financial Information (Actual)
Net Operating Income: | $126,849 |
Utility Information
Water: | City |
Sewer: | City |