851 Mount Pleasant Road, Waycross, GA 31503
sale
$699,000
|
Other
Courtesy Of Crossway Realty
TInvestment Opportunity - 24-Lot Mobile Home Park | 11% Cap RateThis 24-lot mobile home park offers a strong mix of current income, operational stability, and value-add potential.Financial Overview:Annual Gross Rent: $91,500Annual Net Income: $76,845.62 (as of 03/31/2026)Cap Rate: 11%Average Rent (Park-Owned Homes): $625/monthCurrent Occupancy:13 park-owned mobile homes - tenant occupied1 tenant-owned home - long-term lot rentMajority of tenants are under lease agreementsTenants pay utilitiesValue-Add Opportunities:3 abandoned homes (seller actively working to secure titles)1 unit down to shell - ready for remodel1 additional home in need of renovationExpansion Potential:5 vacant lots with existing water, sewer, and electrical already in placeMarket lot rent for these sites estimated at $250-$350/monthOpportunity to add park-owned homes or expand lot rent portfolioOperations:Currently managed by a professional property management company, offering a turnkey investment opportunity for new ownership. With infrastructure in place and multiple avenues to increase revenue, this property is well-positioned for an investor seeking immediate cash flow with upside through expansion and improvements.
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Property Features
- Legal Description: MT PLEASANT RD 851 LL165/8
- MLSID: 1659242
- Parking Spaces: 20
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