4.2 Acres in Thomasville, GA - $265,000

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 well and have individual septic tanks. Tenants are direct billed from utility company for their own electricity / internet, private dirt interior road, and LL provides dumpster service. Total site is 4.197 acres and unit breakdown is 3 tenant-owned MHs pay $255 / month lot rent, 2 park owned MHs tenants pay market rents, 1 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. 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 LL duties and maintenance!

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