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Kotohomes partnered with:
Tallahassee Democrat
For Sale For Rent
Advertise
bedrooms Pending
bedrooms
bedrooms
14
bathrooms
bathrooms
9
square feet
square feet
49,356
acreage
Acreage
9.25
open houses
Open Houses
-
year built
year built
-
full baths
Full Baths
9
half baths
Half Baths
0
Incredible investment opportunity for a 37 unit mobile home park at a 9.44% 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
Subdivision FOX RUN
County -
Elementary School -
Middle School -
High School -
Exact location data not provided
no map
open houses Open houses
None scheduled.
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MLS number: 143770
Listing agent: Caleb Ross
Listing broker: Canopy Realty Group (229) 561-3810
Copyright © 2025 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.   [source]
Last update: Tuesday, April 22 2025 at 2:44 p.m. EDT
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