Mobile Home Park Details

  • Purchase Method: Assumable Loan
  • Cap Rate: 10.0%
  • Listing ID: 708141
  • Posted On: Sep 25, 2016
  • Updated On: Aug 11, 2017

Description

MAN Holdings is pleased to present the Macon Oak Grove and Hawaiian Village MHP Portfolio, which consists of two communities with a combined site count of 76 and an option for additional 80 plus 61 unit storage facility. Both communities are located in Macon , GA, which is a short 60 -minute drive to Atlanta, GA.
Macon Oak Grove MHP and storage facility
Macon Oak Grove is a family community, which was developed in the 1990’s. The community consists of 32 sites with 31 park-owned homes and 1 home/office on 3.6 acres of land. The community has paved roads and city water and sewer. Homes are a mix of singlewide and doublewide .
The park has an additional 61 unit storage facility on a major road that provides additional revenue stream
Pine Woods MHP
Pine Woods MHP was developed in the 1990’s. The community consists of 44 sites (of which 19 are park-owned homes) on 25 acres of land. The community has city water and sewer. Homes are singlewides and double wide.
Pine Woods MHP has been subdivided to 120 lots however only 44 have been developed. This is a tremendous opportunity to redeveloped the additional lots.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 76
Total Occupancy: 65.0 %
Year Built: 1990
Average MH Lot Rent: $255
Size: 29 acre(s)

Financial Information (Actual)

Gross Income: $198

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 74
Average Rent for Park-owned Homes: $450

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