Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 13.9%
- Listing ID: 6179901
- Posted On: Jun 8, 2024
- Updated On: Sep 16, 2024
Description
$307,644 annual effective rent! Incredible opportunity to expand your investment portfolio by adding these 4 established Mobile Home Parks in Waycross, GA with HUGE growth potential! Excellent rental history, 100% occupancy and value-add potential here make this a prime opportunity to capitalize on the housing shortage in Waycross. This package includes 6 land parcels with 38 singlewide mobile homes currently generating a monthly income of $25,637.00 with most units under market average for rents. This investment presents significant value-add opportunities, boasting over 13.7 additional acres primed for expansion, along with 6 vacant lots already approved for additional dwellings.
For more info, call 904-400-2069
Location
6 land lots between Ware & Brantley County: 051A03 044B, B016 158,B010 194, B004 111, B002 200 B010 193-
38 mobile homes. Locations, directions, and financials available upon request.
Park Information
Community Type: | All Age |
Number of MH Lots: | 38 |
Total Occupancy: | 100.0 % |
Year Built: | 1996 |
Average MH Lot Rent: | $675 |
Size: | 31 acre(s) |
Financial Information (Actual)
Gross Income: | $307,644 |
Operating Expense: | $29,890 |
Net Operating Income: | $277,754 |
Expense Ratio: | 9.7 % |
Lot Information
Singlewide Lots: | 51 |
Doublewide Lots: | 0 |
Triplewide Lots: | 0 |
Park Model Lots: | 5 |
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: | 38 |
Average Rent for Park-owned Homes: | $675 |