Property overview
Tifton is a growing leisure destination in the heart of charming South Georgia. Here, you will find the perfect combination of welcoming hometown appeal and exciting cultural chic. Strategically located just 2.5 hours south of Atlanta, Tifton can be reached easily by I-75, US 319, US 82, and US 41. Tifton and Tift County have deep roots in agriculture. Discover scenic, sprawling farmlands that use state-of-the-art agricultural technology, and relish a blast-from-the-past historic working farmstead. The city has a vast collection of museums, art galleries, shopping venues, historic sites, restaurants and outdoor recreation opportunities. Tift County is an ideal business and residential location due to the balance between availability of business services, city style amenities and quality of life. Tifton offers a wonderful lifestyle for young professionals, families and senior citizens.
MHRE Inc. is pleased to present South Central Mobile Home Park located in Tifton, Georgia. Built in the 1970’s, this investment opportunity consists of 42 MHP sites. There are 9 resident owned homes, 5 occupied leased homes, 1 lease option, 2 inventory homes, and one employee site. The lease option will mature in August, and the unit will turn over to the resident. MHRE did not include the LOP payments in the income as it will be paid off before the sale of the park. The remaining 24 sites require about $1,100/site to be hooked back up to the property infrastructure. This is an excellent value-add opportunity, in an area that demands more affordable housing. Once the vacant sites are back online, a new owner will able to bring in new homes to sell or lease and significantly increase the NOI.
South Central Mobile Home Park is located in Tift County. Tift County is located in the central portion of the U.S. state of Georgia. At the southern edge of the county, Tifton is located along Interstate 75, which runs north to south through the city.
South Central Mobile Home Park
1113 Central Avenue South
Tifton, Georgia 31794
For detailed information on this property please contact: Steve Yank (858) 699-9866.
Property Summary
| Total Sites | 42 |
| Year Constructed | 1970 |
| Land (Acres) + | 3.99 |
| Occupied Sites | 15 |
| Vacant Sites | 27 |
| Occupancy | 35.7% |
| Average Rent/Site | $140 |
| PRIMARY USE | Family |
| PROPERTY TYPE | MHP |
| STAR CLASSIFICATION | 2 |
| WATER | Municipal |
| SEWER | Municipal |
| WATER METER TYPE | Sub-metered |
| SEWER METER TYPE | Sub-metered |
OFFERING SUMMARY
| Community Price | $225,000 |
| Total Investment | $225,000 |
| Price per Site | $5,357 |
| Price Occupied per Site | $15,000 |
| Cap Rate - Year 1 (With Reserves) | 9.01% |