56 Egypt Rd - Manufactured Housing/Mobile Housing FOR SALE


Thomasville, GA 31757
$265,000 USD
229-244-3535
56 Egypt Rd, Thomasville, GA for Sale
$265,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/15
null | 9.15% Cap Rate

56 Egypt Rd
Thomasville, GA 31757


HIGHLIGHTS

  • Camellia Estates Mobile Home Park (MPH), at 56 Egypt Road, is a 10-unit mobile home community on 4.19 acres of land.
  • The community is surrounded by agriculture and residential developments and about 20 minutes from Downtown Thomasville.
  • Per the sale of the estate, the mobile home park will be transitioning to lot rent only, eliminating landlord maintenance.
  • Presented with a 9.15% cap rate, this investment opportunity will secure a premier ROI.

OVERVIEW

Camellia Estates Mobile Home Park is a well-positioned mobile home park in quiet and desirable northeast Thomas County of charming southwest Georgia! Proven, stabilized, and affordable investment to start up or add to your portfolio with little to nothing needed to be done to start collecting on closing day! 10 mobile homes on-site in a combination of park-owned, rent-to-own (RTO), and lot rent-only scenarios. All 10 are single-wides that share deep wells and have individual septic tanks. The utility company directly bills tenants for their electricity/internet and private dirt interior roads, and LL provides dumpster service. The total site is ±4.197 acres, and the unit breakdown is three tenant-owned mobile homes (MHs) pay $255 / month lot rent, two park-owned MHs tenants pay market rents, one long-time on-site property manager gets free rent in a park-owned MH in exchange for lawn care, maintenance coordination, and other PM duties. The remaining 4 MHs are closing in on upcoming maturation dates of RTO scenarios (±$7,230 total balance remaining for all 4). Rent Roll and financials available to qualified prospects - valuation is 9.15% cap rate at $2,625 current rents when RTO balances are paid in full and ±23% operating expense factor. Upside/value-add play here with bumping lot rents to ±$300 and collecting PM rent at market rate pushes this to ±12% cap with minimal landlord duties and maintenance!

FOR SALE DETAILS

PRICE

$265,000 USD

PRICE/SF

$31 USD /SF

# OF UNITS

10

PRICE/UNIT

$26,500

CAP RATE

9.15%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Camellia Estates MHP

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.19 AC

LAND SF

182,516 SF

ZONING

Mobile Home Park

APN/PARCEL ID

014 100A

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.