0 Sparks Mobile Home Park, Sparks, GA 31647 - MLS#10452754

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Shawn Delaney

[email protected] +1(770) 378-7994

$2,650,000

Est. payment - /mo

9.25 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Fox Run

MLS Listing ID 10452754

HOA Y/N No

Originating Board Georgia MLS 2

Year Built 1995

Annual Tax Amount $6,574

Tax Year 2024

Lot Size 9.250 Acres

Acres 9.25

Lot Dimensions 9.25

Property Sub-Type Multi Family

Property Description

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.

Location

State GA

County Cook

Rooms

Basement None

Interior

Heating Electric

Cooling Electric

Fireplace No

Exterior

Parking Features Over 1 Space per Unit

Community Features Playground

Utilities Available Electricity Individual Meters, Water Individual Meters

View Y/N No

Garage No

Private Pool No

Building

Faces Heading North on I75 from Valdosta, take Exit 41 for Roundtree Br Rd towards Sparks. Right on Roundtree Brg Rd, left on Fox Run Dr. 1000 Pleasantdale Cir, Sparks can be inputted into GPS

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

New Construction No

Schools

Elementary Schools Cook Primary/Elementary

Middle Schools Cook County

High Schools Cook County

Others

HOA Fee Include None

Tax ID S007B 081

Special Listing Condition Resale

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Shawn Delaney

+1(770) 378-7994

Agent | License ID: 285391

Agent License ID: 285391

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0 Sparks Mobile Home Park Sparks, GA 31647

Shawn Delaney

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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