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MLS Number:
145723
List Price:
$949,000
Bedrooms:
# Full Baths:
# Partial Baths:
Area:
5-N side hwy 84 in Lowndes Co.
Historic District:
No
Direction:
Street #:
7322
Street Name:
Hwy 122
City:
Ray City
State:
GA
Zip Code:
31645
Garage Dimensions:
Carport Dimensions:
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Heating:
Central
Cooling:
Central Air
Water:
Well, Shared Well
Appliances:
Refrigerator, Electric Range
Recreation:
Year Built:
HOA Fee:
No
HOA Fee $:
Interior Features:
Blinds
Exterior Features:
None
Parking:
3+ Cars
Pool:
None
Restrictions:
Property Type:
Multi Unit
Property Description:
Walker's Crossing Mobile Home Park in northeast Lowndes County is a rare opportunity to invest in a turnkey operation and create value immediately or over time when units naturally turn! 14 pad sites, with 13 park-owned homes updated over the past couple of years attract and retain highest quality tenants paying premium rents! Just north of one of the largest economic drivers in South Georgia - Moody Air Force Base - this high-growth location and product is unmatched. The Moody Activity Zone (MAZ-II) zoning in place restricts new multi-family and / or mobile home park development creating a long-term competitive advantage for this grandfathered-in location. Current rents at $11, 150 / month peg this investment at a 9.16% in place cap rate with 35% operating expense factor. Pushing under market rents up even slightly puts this north Lowndes County MHP at an 11%+ cap!! Well and septic in place, mobile-home units individually metered and direct billed by utility provider for power. One extra pad / vacant lot can be developed for mini-storage for additional income. 2 double-wides, 11 single-wides provide a variety of 1/1, 2/1, and 3/2 housing options. Small storage building on site provides room for equipment / supplies. These clean and affordable mobile home park investments are rare for this market - call for rent roll and financials on this solid investment opportunity today!!!
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