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Jernigans Mobile Home Community

Listing was updated on: 06/03/2019
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Property Overview

Price/Rent PSF $ 600,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 23,000
Date Available 09/29/2018
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Description

LocationFast growing Grovetown GA. This is one of fastest growing areas in the state. Fort Gordon is in close proximity and there have been several parks torn down for redevelopment which has created significant demand for affordable housing in the area. Great demographics. Columbia County near Augusta GA.Sale21 Space park. All units are park owned rentals. Most of the units have been remodeled. Park is in a great location with super high demand. This park is stabilized and does great. Easy to manage. Park includes a second park very close by which has 15 spaces and 10 units. Site makes more sense as a redevelopment site. That park is a mess and is currently shut down. Units could be fixed up and repaired and rented out. Make an offer on one or both together. Proforma CAP rate is 9.44 and on actual is over 8.37% today. Rents are currently low and can be raised. Current ownership doesn't charge late fees also which would be additional revenue source. This site has great future redevelopment potential as well. Jernigans has dirt roads, county water and county sewer. The other parcel included in the sale is county water/sewer and paved roads.

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