146 David St - Manufactured Housing/Mobile Housing FOR SALE


Adel, GA 31620
$1,250,000 USD
864-915-0849
146 David St, Adel, GA for Sale
$1,250,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/32
null | Request Cap Rate

146 David St
Adel, GA 31620


HIGHLIGHTS

  • Stable, Low-Intensity Asset with Strong Tenant Ownership
  • Clear Upside Through Rent Optimization
  • Long-Term Tenant Occupancy
  • Lot Rents Currently Below Market
  • Water, Sewer and Trash service all direct billed to tenant

OVERVIEW

Aline Capital’s MHRV team is pleased to offer our Broker opinion of value for Adel MHC. An opportunity to acquire a well-maintained 30-pad mobile home community located in the city of Adel, Georgia—a growing market in South Georgia known for its affordability and stable tenant base. The park is predominantly tenant-owned, with 26 out of 30 homes owned by residents*, minimizing management intensity and maintenance costs. Situated on approximately 5.85 acres, the community benefits from full city water and sewer service, both directbilled to tenants, as well as tenant-billed trash service, which results in minimal utility expense to ownership. The property’s strong occupancy and low turnover create consistent cash flow, with additional upside through the lease-up of two vacant pads and gradual rent adjustments to market levels. Inspite of the recent fifty-two million dollar expansion of Medical Center infrastructure, and the Walmart Supercenter now located in Adel, Lot rents remain below regional market averages. This provides investors with an immediate path to increased returns through rent optimization. The two vacant pads offer additional income potential with minimal capital outlay, as infrastructure is already in place. With its high percentage of tenant-owned homes and direct-billed utilities, the park is positioned as a low maintenance, high-yield asset in a market demonstrating steady demand for affordable housing. * New tenant in Lot 1 is planning to pay off the unit and convert to lot rent only. (Details on the home sale can be discussed during marketing process.)

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$46 USD /SF

# OF UNITS

30

PRICE/UNIT

$41,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.65 AC

LAND SF

289,674 SF

ZONING

HI

APN/PARCEL ID

0040E-009 01

ASK ABOUT THIS PROPERTY

Alex WillerAline CapitalMore Info
864-915-0849

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Alex WillerAline CapitalMore Info
864-915-0849

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.