205 Kinchafoonee Rd - Manufactured Housing/Mobile Housing FOR SALE


Leesburg, GA 31763
$1,600,000 USD
229-405-2483
205 Kinchafoonee Rd, Leesburg, GA for Sale
$1,600,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/15
null | Request Cap Rate

205 Kinchafoonee Rd
Leesburg, GA 31763


HIGHLIGHTS

  • Well established Mobile Home Park in very desirable Lee County, GA location
  • 54 lots with 44 tenant owned homes; 3 brand new 2024 park owned homes; 7 vacant lots available for additional park owned homes
  • 8% overall rate as is with proforma rate projected at 9% with small increase in lot rent and addition of park owned homes

OVERVIEW

Kinchafoonee Mobile Home Park (KMHP) is located in the south-central portion of Lee County four blocks west of U.S. Hwy 19 S, a four-lane highway that connects Leesburg, GA (5 miles to the north) with Albany, GA (2 miles to the south). All amenities of shopping, employment centers, and schools are conveniently located within a 10-15 minute drive-time. KMHP is a well-established mobile home park community consisting of 54 generously sized and wooded homesites. Amenities include asphalt paved streets, street lighting, county water, and individual septic tanks. Currently 44 sites are leased for tenant-owned homes, 3 sites are improved with newly added 2024 model park-owned mobile homes, and 7 sites are vacant and available for additional park-owned home rentals. This is an excellent opportunity for a new park owner to increase park revenue and further increase the return on investment. Effective Jan. 1, 2025, the lot rents will be increased from $200/month to $225/month. This rate is still below the $250-$300/month lot rent being charged by comparable parks. Implementing a gradual increase on lot rent to market levels will further increase the buyer’s overall return on investment.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$40 USD /SF

# OF UNITS

3

PRICE/UNIT

$533,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kinchafoonee Mobile Home Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

MHP

APN/PARCEL ID

040A-128

ASK ABOUT THIS PROPERTY

Mike EverettSouthCore Real EstateMore Info
229-405-2483

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Mike EverettSouthCore Real EstateMore Info
229-405-2483

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