USAGARay CityWalker's Crossing7322 Highway 122
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$949,000

13 - 7322 Highway 122, Ray City, GA

Real Estate

For Sale

$--,---,---
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  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Unit
Levels Residential Income
Size 12648 sqft
Garage No
Maintenance Fees 
Taxes $2,350
Days Active 2
Approx. Age 
Avg. Price Per Sqft $75
MLS® Number 145723

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Walker's Crossing Mobile Home Park in northeast Lowndes County is a rare opportunity to invest in a turnkey operation and create value immediately or over time when units naturally turn! 14 pad sites, with 13 park-owned homes updated over the past couple of years attract and retain highest quality tenants paying premium rents! Just north of one of the largest economic drivers in South Georgia - Moody Air Force Base - this high-growth location and product is unmatched. The Moody Activity Zone (MAZ-II) zoning in place restricts new multi-family and / or mobile home park development creating a long-term competitive advantage for this grandfathered-in location. Current rents at $11, 075 / month peg this investment at a 9.1% in place cap rate with 35% operating expense factor. Pushing under market rents up even slightly puts this north Lowndes County MHP at an 11%+ cap!! Well and septic in place, mobile-home units individually metered and direct billed by utility provider for power. One extra pad / vacant lot can be developed for mini-storage for additional income. 2 double-wides, 11 single-wides provide a variety of 1/1, 2/1, and 3/2 housing options. Small storage building on site provides room for equipment / supplies. These clean and affordable mobile home park investments are rare for this market - call for rent roll and financials on this solid investment opportunity today!!!Show Description
MLS® Number145723
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
ExteriorNone
GarageNo
Approx. Age
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatCentral
A/CCentral Air
Heating Fuel

Extras

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