63 Valley View Dr
Cartersville, GA 30120
Multifamily Property For Sale · 11,000 SF

PROPERTY IS PRICED TO SELL. UNITS ARE 100% OCCUPIED & CURRENTLY EARNING OVER $10,000 of GROSS MONTHLY RENTAL INCOME and one can earn OVER a 35% CASH ON CASH RETURN. Almost every unit has been RENOVATED within the last 9 MONTHS yielding over a 16 CAP RATE and there still is an UPSIDE. UPDATED mid-year 2020 ACTUAL financials exist which are not shown on here. This is a very well located trailer park which is one mile from downtown Cartersville, a growing town at the edge of Atlanta's suburbs. The park has 9 lots with trailers, a frame-built house and a vacant lot. Utilities are paid by the tenants directly to the municipality: city water, sewer, trash pick up and electricity. This mobile home park has two enhanced rent to own homes that are park-owned. Additionally, there is a remodeled single family house, a rented lot and many renovated park owned units. Over half of the units are from the mid-late 90's to early 2000's. The 2019 gross annual income was up 9% over 2018's income and it should go up another 14% in 2020 for the new owner. The units rehabbed in the last year are one time expenses for the park. Now, when you combine a strong labor market, lack of affordable housing, proximity to many employers, shopping and the interstate, you quickly come to realize that there is no shortage of demand from people who want to occupy these units.The best part of the property is its location along with its significantly larger home sites than most. Additionally, its existing zoning allows for denser placement of multi-family units so one can build many apartments or townhomes on it. Finally, one can decide to take a creatiive approach and develop a few new units at a time.