7640 Old Hwy 259 Hwy - Manufactured Housing/Mobile Housing FOR SALE


Waynesville, GA 31566
$595,000 USD
229-244-3535
7640 Old Hwy 259 Hwy, Waynesville, GA for Sale
$595,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/1
null | 10.27% Cap Rate

7640 Old Hwy 259 Hwy
Waynesville, GA 31566


HIGHLIGHTS

  • Value-Add opportunity

OVERVIEW

Stabilized, proven, and affordable opportunity for savvy investors seeking immediate cash flow and value-add play! Located in Waynesville, Georgia, "Shady Oaks" mobile home park is ±5.90 acres featuring 14 mobile homes, 1 stick-built home and 2 vacant lots (17 total "pads") spaced out in a quiet, rural setting, offering tenant privacy. Strong tenant demand and room for expansion, this asset is well-positioned for continued income and future growth. All 14 mobile homes are single-wides and parked-owned ("POH"), each with its own septic tank. 2 separate wells on site. 2 empty lots on site are shovel ready and ideal for future development or additional units. Mobile home models are 1970–1996 offering a mix of vintage and more modern units. Multiple on-site storage structures can provide added rental or utility potential. Minimal competition, and consistent demand for affordable housing in this submarket keep the tenant prospects lined up with quick turns. Potential to increase rents, modernize units, and / or develop additional pads, the best days are ahead for this park and your investment. Potential Gross rent roll is ±$9,265 / month with mobile home rents ranging from $515-$700 / month. Stick built home recently rented for $900 / month. Proforma cap rate is 10.27% at 45% operating expense factor!!! Rent roll and financials available to qualified prospects.

FOR SALE DETAILS

PRICE

$595,000 USD

PRICE/SF

$46 USD /SF

# OF UNITS

15

PRICE/UNIT

$39,667

CAP RATE

10.27%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shady Oaks MHP - Waynesville GA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.9 AC

LAND SF

257,004 SF

ZONING

Multi Family

APN/PARCEL ID

B066 013

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.