7322 Highway 122 E - Manufactured Housing/Mobile Housing FOR SALE


Ray City, GA 31645
$949,000 USD
229-244-3535
7322 Highway 122 E, Ray City, GA for Sale
$949,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/63
null | 9.1% Cap Rate

7322 Highway 122 E
Ray City, GA 31645


HIGHLIGHTS

  • Close to Moody Air Force Base
  • High growth and sought after north Lowndes County location
  • Updated units - turnkey income

OVERVIEW

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 $11,075 / month peg this investment at a 9.1% 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!!!

FOR SALE DETAILS

PRICE

$949,000 USD

PRICE/SF

$75 USD /SF

# OF UNITS

13

PRICE/UNIT

$73,000

CAP RATE

9.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walker's Crossing Mobile Home Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.36 AC

LAND SF

146,362 SF

ZONING

MAZ-II

APN/PARCEL ID

0175 140

ASK ABOUT THIS PROPERTY

John CoursonColdwell Banker Commercial Premier Real EstateMore Info
229-244-3535

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John CoursonColdwell Banker Commercial Premier Real EstateMore Info
229-244-3535

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