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Cash Flowing MHP - 96% Occupied - Elberton 1055 Country Manor Ln 27 Unit Mobile Home Park $1,500,000 ($55,556/Unit) 10.88% Cap Rate Elberton, GA 30635
INVESTMENT HIGHLIGHTS
- 24 Park Owned MH's
- Well Maintained Park
- Elbert County
- 1 Vacant Lot
- Property On Sewer
- 2 Privately Owned MH's
EXECUTIVE SUMMARY
1055 Country Manor Lane offers a unique opportunity to acquire a wellpositioned cash flowing mobile home park (MHP) in Elberton, Georgia — widely known as the “Granite Capital of the World.” Set on a spacious 5.19 acre lot with ample parking and easy access, this park contains 27 total lots, 24 park owned
MH's, 2 private owned MH's, and 1 lot with a burnt MH. Property is nestled between Walmart, Ingles, and surrounding multi-family. The park sits +/-2 miles from the City of Elberton.
Within the last 18 months 10 of the 24 park owned MH's have been fully renovated and re-leased. The current gross monthly rental income is $18,100+. Current owner has invested +/-$235,000 in renovations to the property.
Utilities:
Water - 1 Meter for Park - Tenants Reimburse
Sewer - County
Electric - Individual MH Meters
Each tenant is screened via tenant application and is required to pay 1 month's
rent + security deposit (equal to 1/mo rent).
MH's, 2 private owned MH's, and 1 lot with a burnt MH. Property is nestled between Walmart, Ingles, and surrounding multi-family. The park sits +/-2 miles from the City of Elberton.
Within the last 18 months 10 of the 24 park owned MH's have been fully renovated and re-leased. The current gross monthly rental income is $18,100+. Current owner has invested +/-$235,000 in renovations to the property.
Utilities:
Water - 1 Meter for Park - Tenants Reimburse
Sewer - County
Electric - Individual MH Meters
Each tenant is screened via tenant application and is required to pay 1 month's
rent + security deposit (equal to 1/mo rent).
PROPERTY FACTS
| Price | $1,500,000 | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $55,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 5.34 AC |
| Cap Rate | 10.88% | Building Size | 19,602 SF |
| No. Units | 27 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2000 |
| Zoning | R2 | ||
| Price | $1,500,000 |
| Price Per Unit | $55,556 |
| Sale Type | Investment |
| Cap Rate | 10.88% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Lot Size | 5.34 AC |
| Building Size | 19,602 SF |
| No. Stories | 1 |
| Year Built | 2000 |
| Zoning | R2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 28 | $825.00 | 784 - 924 |
| 2+1 | 24 | $912.50 | 672 - 770 |
| 3+2 | 15 | $617.50 | 924 - 1,216 |
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PROPERTY TAXES
| Parcel Number | 042F-011 | Improvements Assessment | $26,943 |
| Land Assessment | $51,900 | Total Assessment | $78,843 |
PROPERTY TAXES
Parcel Number
042F-011
Land Assessment
$51,900
Improvements Assessment
$26,943
Total Assessment
$78,843
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Cash Flowing MHP - 96% Occupied - Elberton | 1055 Country Manor Ln
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