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(205) 410-1005
LoKation Real Estate LLC
2184 W Point Road, Lagrange, GA 30240
- $2,750,000
- List Price
- $2,750,000
- Status
- ACTIVE
- Days on Market
- 19
- MLS#
- 7854906
- Subtype
- Residential Income
- Year Built
- 2000
- Lot Size
- 483,080
- Acres
- 11.09
- Subdivision
- Oakview
- Neighborhood
- Oakview
Property Description
LAND AND ALL 32 HOMES INCLUDED. 11% CAP RATE. This is not a lot-rent-only park. The sale of Oakview Mobile Home Park includes the 11.09-acre parcel AND all 32 park-owned homes, each 3 bedrooms/2 baths. Tenants rent the home and the lot together, so the owner collects full home rent, not just pad rent. 28 homes are occupied, 1 houses the on-site maintenance resident, and 3 are freshly renovated and ready to lease. Seller reports $327,660 gross annual rent (about $881/month per rental home) and $303,561 NOI. At the $2,750,000 asking price, that’s an 11.0% cap rate and $85,938 per home, land included. Annual expenses reported by seller are $24,099 (taxes $8,554, insurance $12,246, registrations, common electric). Public water, Flood Zone X. Flat, level land under 3 homes per acre with open ground for possible expansion, subject to county approval. On West Point Rd near the Kia Georgia plant, retail, and services. Figures are seller-reported and unaudited. Buyer to verify all information. Rent roll, T-12, and home titles available with signed NDA. Do not disturb tenants; showings by appointment only.
Additional Information
- Taxes
- $8,554
- Heating
- Central
- Air Conditioning
- Central Air
- Exterior Construction
- Vinyl Siding
- Stories
- One
- Levels
- One
- Roof
- Composition
- Parking
- Driveway
- Elementary School
- Troup - Other
- Middle School
- Troup - Other
- High School
- Troup - Other
- View
- City
Listing courtesy of EXP Realty, LLC..
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