This Multifamily Property is Off-Market.

2072 Hephzibah McBean Rd
Hephzibah, GA 30815 ·

122 Spaces · Multifamily For Sale

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MOBILE HOME PARK WITH OWNER FINANCING

Price N/A Cap Rate 13.46%
No. Spaces 122 Occupancy 90%
Property Type Multifamily Year Built 1970
Property Sub-type
Mobile Home/RV Community
More...
  • Government Subsidized
  • Special Purpose (Other)
Lot Size 45 AC
Property Use Type Investment
Listing ID: 15751569 Date Created: 06/10/2008 Last Updated: 03/23/2009

Description

The park consists of primarily park owned homes ranging from late 60s models to middle 80s model homes. The current owner built the park and has run it for 40+ years. He is ready to retire and is not interested in growing the park to its full potential.

The park is on city water and utilizes septic tanks. Regular septic tank pumps are essential and have been accounted for in financials. The tanks have been maintained very well as the owners son owns a plumbing/septic repair company which we actually use for other parks. Park has 50+ acres.

Rents are below market which causes the park to stay full. We accounted for a 15% vacancy/collection loss which is much higher than what current owner is operating at. The roads are unpaved but are maintained regularly. The park has expansion room and has undeveloped lots which could be utilized. City constraints are not a problem as regulation is very limited in the area since the park is under the city of Hephzibah versus the city of Augusta. There are no known environmental problems with property.

This park is located just outside of Augusta GA in a city called Hephzibah. Hephzibah is included in the Central Savannah River Area (CSRA) which is generally considered Augusta GA. Augusta is a growing area with industry expansion and new development despite economic troubling times elsewhere.

Highlights

  • OWNER FINANCING UNDER GREAT TERMS
  • MAJOR UPSIDE
  • EQUITY PARTNER AVAILABLE
  • SEE MANAGEMENT PLAN UNDER FLYER
  • LONG TERM FINANCING WITH 10 YEAR BALLOON
  • GREAT CASH ON CASH RETURN

Research

2072 Hephzibah McBean Rd, Hephzibah, GA 30815 (Richmond County)

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