Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 11.0%
- Listing ID: 1507678
- Posted On: Sep 2, 2021
- Updated On: Nov 29, 2021
Description
Easy cash flow opportunity for any investor! Garden Mobile Home Park sits in a prime Stockbridge location just minutes from shopping and schools. This well kept park has 17 sites with 16 park owned homes. Features include: paved road and parking, street lamp, separate utility meters for each home, and each home is connected to county sewer. The park has consistently remained at 100% occupancy and offers a cap rate at just over 11% with room for improving value. PROPERTY IS TENANT OCCUPIED. DO NOT DISTURB TENANTS. Seller also looking to sell two singl family residential homes: 121 Spring St, Stockbridge (98k) and 106 Lake Dr, Stockbridge ($110k).
Location
Input 121 Spring St, Stockbridge GA 30281 into GPS for best route from your location. When approaching the destination, at a 4 way with Spring St and Lambert Dr, the mobile home park will be on the left. Homes are on Spring St and Willow Ct.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 17 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1984 |
| Average MH Lot Rent: | $585 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $121,625 |
| Operating Expense: | $21,000 |
| Net Operating Income: | $100,000 |
| Expense Ratio: | 17.3 % |
Lot Information
| Singlewide Lots: | 17 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
| Average RV Lot Rent: | $0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 16 |
| Average Rent for Park-owned Homes: | $585 |
