Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.0%
- Listing ID: 1651290
- Posted On: Apr 20, 2022
- Updated On: Jul 3, 2022
Description
Turn Key Park Under Professional Management!
Property will be delivered at a 10 cap, 100% occupied and low maintenance to buyer.
Most of the homes are from the late 80s
Gross income is around $180,000 with room to increase rents
Well located MHP in a strong and rapidly growing market.
This “mom & pop” park is well maintained
The park has 31 lots and 20 of them have been remodeled in the past 12 months. 1 of them is a laundry facility, 30 are rentals
All units are park owned.
This property is stabilized and turn key for the next owner.
Oak Meadows Mobile Home Park is an all-ages community and
has private septic and two private wells .
This property is ran Absentee
All the units are 2/1s
Location
Located in a good location, in the Hinesville MSA. The Hinesville market has seen a lot of growth over the last 10 years and is home to Fort Stewart Military Base.
Hinesville is 40 minutes from Savannah, GA and just 20 minutes
or so to the Georgia Coastal areas.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 30 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1980 |
Financial Information (Pro Forma)
| Gross Income: | $180,000 |
| Operating Expense: | $50,000 |
| Net Operating Income: | $130,000 |
| Expense Ratio: | 27.8 % |
| Debt Info: | Glennville Bank |
Lot Information
| Singlewide Lots: | 30 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 30 |
| Average Rent for Park-owned Homes: | $550 |
