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Hartwell MHP 466 N Leard St 50 Unit Mobile Home Park $2,250,000 ($45,000/Unit) 7.15% Cap Rate Hartwell, GA 30643
Executive Summary
The Esterson MHC Team is pleased to present Hartwell MHP, a 50-unit, stabilized with upside mobile home community located in the scenic Lake Hartwell region of northeast Georgia.
Located in Hartwell, GA, the county seat of Hart County, the property benefits from a close proximity to Lake Hartwell, which attracts over 10 million visitors annually. Hartwell’s economy is supported by a healthy mix of manufacturing, healthcare, and tourism. Major employers include Brakebush Brothers, Fabritex, Haering Precision, and Nestle Purina PetCare. It also benefits from its proximity to Athens, GA and Anderson, SC, drawing residents who commute to other regional job centers.
The community includes 50 manufactured housing (MH) lots, consisting of 7 tenant owned homes (TOH), 32 rent to own homes (RTO), and 11 vacant MH lots. The average lot rental rate per month is $422 and the average RTO payment above lot rent is $200/month. The RTO contracts have an average time remaining to maturity of roughly 5 years.
The park operates on public water, sewer, electric, and trash. The water and sewer are billed back to tenants based on usage. Electricity is billed directly to tenants, as well as the trash, which is serviced by curbside bins. The privately maintained roads are paved and in average to below average condition. The park is NOT in a flood zone or opportunity zone.
We are asking investors to submit offers at or above $2,250,000. All offers must include pricing, inspection period, funding source, and appropriate due diligence timelines.
Located in Hartwell, GA, the county seat of Hart County, the property benefits from a close proximity to Lake Hartwell, which attracts over 10 million visitors annually. Hartwell’s economy is supported by a healthy mix of manufacturing, healthcare, and tourism. Major employers include Brakebush Brothers, Fabritex, Haering Precision, and Nestle Purina PetCare. It also benefits from its proximity to Athens, GA and Anderson, SC, drawing residents who commute to other regional job centers.
The community includes 50 manufactured housing (MH) lots, consisting of 7 tenant owned homes (TOH), 32 rent to own homes (RTO), and 11 vacant MH lots. The average lot rental rate per month is $422 and the average RTO payment above lot rent is $200/month. The RTO contracts have an average time remaining to maturity of roughly 5 years.
The park operates on public water, sewer, electric, and trash. The water and sewer are billed back to tenants based on usage. Electricity is billed directly to tenants, as well as the trash, which is serviced by curbside bins. The privately maintained roads are paved and in average to below average condition. The park is NOT in a flood zone or opportunity zone.
We are asking investors to submit offers at or above $2,250,000. All offers must include pricing, inspection period, funding source, and appropriate due diligence timelines.
Property Facts
| Price | $2,250,000 | Building Class | C |
| Price Per Unit | $45,000 | Lot Size | 10.82 AC |
| Sale Type | Investment | Building Size | 40,000 SF |
| Cap Rate | 7.15% | Average Occupancy | 78% |
| No. Units | 50 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Manufactured Housing/Mobile Home | Parking Ratio | 2.55/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | C4 | ||
| Price | $2,250,000 |
| Price Per Unit | $45,000 |
| Sale Type | Investment |
| Cap Rate | 7.15% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 10.82 AC |
| Building Size | 40,000 SF |
| Average Occupancy | 78% |
| No. Stories | 1 |
| Year Built | 1975 |
| Parking Ratio | 2.55/1,000 SF |
| Zoning | C4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 51 | - | 700 - 800 |
Property Taxes
| Parcel Number | I56O049 | Improvements Assessment | $64,400 |
| Land Assessment | $35,490 | Total Assessment | $99,890 |
Property Taxes
Parcel Number
I56O049
Land Assessment
$35,490
Improvements Assessment
$64,400
Total Assessment
$99,890
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Hartwell MHP | 466 N Leard St
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