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0 Sparks Mobile Home Park ,
Sparks, GA 31647
Multi-Family
Active
Listed by: Caleb Ross
Canopy Realty Group
Price Summary
- $2,650,000
- $6,574 (2024) Taxes
About This Home
Incredible investment opportunity for a 37 unit mobile home park at a 10.44% Cap rate. This park is spread among 37 parcels, totaling 9.25 acres with 37 pads in the beautiful town of Sparks, GA. This South Georgia town is located minutes from Interstate 75 and less than 7 miles to the Adel, Ga and 25 minutes to Valdosta, GA. This community features 37 park-owned homes (POH) with current Occupancy at 94.59%, with 27 doublewides and 10 singlewides. Sparks Mobile Home Park utilizes county water and county sewerage that is direct-billed to each tenant. Park supplies trash through a dumpster. Highlighted features include paved roads that are county maintained. The POH inventory age varies in age from the 1992 through the 2006, with only two outliers dated 1983 & 1989 - all homes are 3/2 with exception to one 4/2 and one 5/3. Several homes have new HVACs. With an average total rent of $785/month, there is room to increase the POH rents by at least $25-$50 per month on new turnovers. We are asking investors to submit offers at, or above, $2,650,000 for the portfolio, which includes all the home inventory as well as the land each parcel sits on. This is pricing the community at a 10.44% cap after expenses. This is well below replacement cost of used homes. Total income should provide an investor with a solid mid-teens cash-on-cash return. Titles are in hand. Rent Roll and PNL are available for qualified Buyers.
Home Facts
- Multi-Family
- Built in 1995
Listing ID #: 10452754
Last Updated: February 10, 2025, 08:23 PM
Added: 15 days ago
Heating & Cooling
Cooling
Cooling: Electric
Structure & Exterior
Year Built: 1995
Location & Schools
Schools
Elementary School: Cook Primary/Elementary
Middle School: Cook County
High School: Cook County
Utilities
Sewer: Public Sewer
Water Source: Public, Water Individual Meters
Finances & Disclosures
Finances
Price: $2,650,000
Disclosures
Tax Amount: $6,574
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