moile home park for sale · 2016-10-13 · for more information contact: joe edge, sior, ccim (706)...
TRANSCRIPT
For More Information Contact:
Joe Edge, SIOR, CCIM (706) 722-8334 ext. 262 or (706) 627-2789
WWW.SHERMANANDHEMSTREET.COM
3523 Walton Way Ext. Augusta, GA 30909
MOBILE HOME PARK FOR SALE
12% Cap Rate Asking Price $795,000
4325 Old Cusseta Road, Columbus GA 31903
For more info click on http://looplink.shermanandhemstreet.com/ll/20010791/4325-Old-Cusseta-Road/
Video tour @ https://www.youtube.com/watch?v=rxhVNdV1i9I&t=12s
For More Information Contact:
Joe Edge, SIOR, CCIM (706) 722-8334 ext. 262 or (706) 627-2789
WWW.SHERMANANDHEMSTREET.COM
3523 Walton Way Ext. Augusta, GA 30909
MOBILE HOME PARK FOR SALE
2016 8 Month P&L Summary Monthly Annualized 2015
Rental Income $ 63,618.75 $ 7,952.34 $ 95,428.13 $ 113,054.00
Water Reimbursement $ 2,060.00 $ 257.50 $ 3,090.00 $ 9,848.53
Laundry Fees $ 87.00 $ 10.88 $ 130.50 $ 211.50
Concessions $ 92.00 $ 11.50 $ 138.00 $ 556.10
Other $ 45.00 $ 5.63 $ 67.50 $ 400.00
Total Income $ 65,902.75 $ 8,237.84 $ 98,854.13 $ 124,070.13
Mgmt $ 7,908.33 $ 988.54 $ 11,862.50 $ 14,888.42
Maintenance $ 786.90 $ 98.36 $ 1,180.35 $ 6,883.00
Property Tax $ 3,738.87 $ 467.36 $ 5,608.31 $ 5,608.31
Mobile Home Taxes $ 2,119.52 $ 264.94 $ 3,179.28 $ 3,179.28
Insurance $ 3,958.16 $ 494.77 $ 5,937.24 $ 5,937.24
Water $ 11,508.60 $ 1,438.58 $ 17,262.90 $ 23,571.67
Garbage $ 1,960.00 $ 245.00 $ 2,940.00 $ 2,940.00
Electric $ 1,228.99 $ 153.62 $ 1,843.49 $ 1,716.61
Phone $ 406.00 $ 50.75 $ 609.00 $ 609.00
Legal $ 506.00 $ 63.25 $ 759.00 $ 992.00
Advertising $ 470.00 $ 58.75 $ 705.00 $ 475.00
Misc $ 15.00 $ 1.88 $ 22.50 $ 65.00
Total Expense $ 34,606.37 $ 4,325.80 $ 51,909.56 $ 66,865.53
Net Operating Income $ 31,296.38 $ 3,912.05 $ 46,944.57 $ 57,204.60
Proforma with 10 homes online Proforma with 20 homes online
Gross Potential Income $ 30,715.00 $ 30,715.00
Vacancy Rate $ (13,121.85) $ (8,121.85)
Collection Loss $ (4,607.25) $ (4,607.25)
Water Reimbursement $ 450.00 $ 650.00
Other Income $ 15.00 $ 15.00
Effective Gross Income $ 13,450.90 $ 18,650.90
Expenses
Management Fee $ 672.55 $ 932.55
Manager/Mainteance $ 2,000.00 $ 2,000.00
Property Tax $ 467.36 $ 467.36
Mobile Home Taxes $ 264.94 $ 264.94
Insurance $ 494.77 $ 494.77
Water $ 1,788.58 $ 2,138.58
Garbage $ 245.00 $ 245.00
Electric $ 153.62 $ 153.62
Phone $ 100.00 $ 100.00
Legal $ 100.00 $ 100.00
Advertising $ 100.00 $ 100.00
Misc $ 200.00 $ 200.00
Total Expense $ 6,586.82 $ 7,196.82
Net Operating Income $ 6,864.09 $ 11,454.09
Annaul NOI $ 82,369.02 $ 137,449.02
Proforma assumes 10 homes rented for $500 per month
Proforma assumes 10 homes rented for $500 per month
added $35 per unit to water bill and $20 bill back for water
added $35 per unit to water bill and $20 bill back for water
assume 100K investment assume 200K investment
9% cap rate $ 915,211.33 $ 1,527,211.33
cash investment $ (100,000.00) $ (200,000.00)
value today $ 815,211.33 $ 1,327,211.33
Lot
# B
/B
Typ
e
No
tes
Ten
ant
Re
nt
Ch
arge
d
Mar
ket
Re
nt
Vac
ant
Ho
me
Re
nts
G
ross
Po
ten
tial
2
2/1
sp
ace
ren
ter
SP
ECIA
L U
NIT
30
0.0
0
30
0.0
0
6 2
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sp
ace
ren
ter
Nic
ho
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arte
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45
.00
5
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5
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14
1/1
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AR
K O
WN
ED
nee
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ren
ova
tio
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4
50
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4
50
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15
2/1
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nee
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ren
ova
tio
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5
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5
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16
1/1
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H
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l 4
00
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4
50
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4
50
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22
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M
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40
0.0
0
45
0.0
0
45
0.0
0
23
1/1
P
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K O
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45
0.0
0
45
0.0
0
24
1/1
P
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K O
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D
ebo
rah
Gre
en
32
8.5
0
45
0.0
0
45
0.0
0
25
1/1
P
AR
K O
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ED
45
0.0
0 4
50
.00
31
2/2
sp
ace
ren
ter
ab
and
on
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Ther
esa
Vau
gh
30
0.0
0
30
0.0
0
36
2/2
sp
ace
ren
ter
??
? To
m D
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lap
2
80
.00
3
00
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3
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37
2/1
sp
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ren
ter
SP
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L U
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30
0.0
0
30
0.0
0
38
1/1
P
AR
K O
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K
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50
.00
4
50
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4
50
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39
2/1
P
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K O
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50
0.0
0
50
0.0
0
41
2/1
P
AR
K O
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43
0.0
0
50
0.0
0
50
0.0
0
43
2/1
sp
ace
ren
ter
SP
ECIA
L U
NIT
30
0.0
0
30
0.0
0
45
2/1
P
AR
K O
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50
0.0
0
50
0.0
0
47
1/1
P
AR
K O
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45
0.0
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50
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49
1/1
P
AR
K O
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45
0.0
0
45
0.0
0
50
2/1
P
AR
K O
WN
ED
50
0.0
0
50
0.0
0
51
2/1
P
AR
K O
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ED
50
0.0
0
50
0.0
0
52
2/1
P
AR
K O
WN
ED
50
0.0
0
50
0.0
0
53
2/1
P
AR
K O
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FIR
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NIT
0.0
0
0.0
0
54
2/2
P
AR
K O
WN
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nee
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ren
ova
tio
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5
00
.00
5
00
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55
2/1
sp
ace
ren
ter
ab
and
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3
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3
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56
2/1
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R
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4
30
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5
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5
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57
2/1
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K O
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50
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0
50
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0
58
2/1
P
AR
K O
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Ja
smin
Ch
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4
30
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5
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5
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59
2/1
sp
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ter
SP
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30
0.0
0
30
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0
60
2/1
P
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K O
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ED
Fr
edri
ck J
acks
on
4
30
.00
5
00
.00
5
00
.00
61
2/1
P
AR
K O
WN
ED
50
0.0
0
50
0.0
0
62
2/1
sp
ace
ren
ter
Pam
Ole
xa
28
5.0
0
30
0.0
0
30
0.0
0
63
2/1
P
AR
K O
WN
ED
50
0.0
0
50
0.0
0
64
3/2
sp
ace
ren
ter
SP
ECIA
L U
NIT
51
5.0
0
51
5.0
0
51
5.0
0
67
3/2
sp
ace
ren
ter
SP
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L U
NIT
50
0.0
0
50
0.0
0
50
0.0
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68
2/1
P
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K O
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ED
50
0.0
0
50
0.0
0
69
2/1
sp
ace
ren
ter
2
95
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3
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3
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70
2/1
sp
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ter
2
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.00
3
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3
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71
2/1
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50
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0
50
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73
2/1
P
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K O
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50
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0
50
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74
2/1
P
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K O
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ED
50
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0
50
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0
75
1/1
P
AR
K O
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D
elo
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Bo
ykin
3
85
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4
00
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4
00
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81
1/1
P
AR
K O
WN
ED
45
0.0
0
45
0.0
0
82
2/1
sp
ace
ren
ter
Earn
est
Wh
iltey
3
25
.00
32
5.0
0
32
5.0
0
83
2/2
P
AR
K O
WN
ED
52
5.0
0
52
5.0
0
84
2/2
P
AR
K O
WN
ED
V
anes
sa B
led
soe
45
5.0
0
50
0.0
0
50
0.0
0
85
2/1
P
AR
K O
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50
0.0
0
50
0.0
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88
2/1
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spac
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nte
r
SPEC
IAL
UN
IT
Joan
na
Pri
ce
38
5.0
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38
5.0
0
38
5.0
0
90
1/1
P
AR
K O
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ED
45
0.0
0
45
0.0
0
91
2/1
sp
ace
ren
ter
Iso
m D
ay
29
0.0
0
30
0.0
0
30
0.0
0
92
1/1
P
AR
K O
WN
ED
Ju
stin
Wat
son
4
00
.00
4
00
.00
4
00
.00
93
2/1
sp
ace
ren
ter
Pre
nti
se B
utl
er
36
5.0
0
50
0.0
0
50
0.0
0
8
,41
3.5
0
9,3
25
.00
1
2,9
75
.00
22
,30
0.0
0
