Capri Mobile Home Community | 277 Dogwood Ln
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Capri Mobile Home Community 277 Dogwood Ln
42 Unit Mobile Home Park £979,125 (£23,312/Unit) 10.87% Net Initial Yield Ringgold, GA 30736
Investment Highlights
- Close to Interstate I-75
- Ability to add 23 more Manufactured / Mobile Homes with zero down as part of the 21st Century Cash program
Executive Summary
42 Pad Mobile Home park on a 6.6 acre lot close to Interstate 75.
19 Units with Mobile homes of which 4 are tenant owned homes, and 15 Park owned.
Currently grossing around $12,000+ per month all with active 12 month leases.
5 of the park Owned homes were totally renovated with new luxury flooring, sheet rock & ceiling - with rents fetching around $1,000 each. (5 at more than $1000 per month, from between $1,000 to $1,175 each). Potential to update and increase rents on all other units.
Each of the other occupied Park Owned homes are rented for a minimum of $775 with potential to increase rents. 4 Tenant owned homes lot rent for between $415 to $500.
Potential to fill in all the county approved remaining Pads. Large lot of 6.46+ acres.
Tenants pay all utilities including Water, electric to the county. Owners pay for Lawn $150 per month, water ($400 per month) and common trash pickup service of around $215 per month. 100% of available units are occupied and rented with waiting list.
Huge labor market in nearby Carpet / Flooring capital of the US (Dalton / Ringgold) – with 100% occupancy and waiting list.
Short term seller financing possibility with minimum $400k down amortized over 25 years with balloon in 2 years.
Reach out to get more details.
19 Units with Mobile homes of which 4 are tenant owned homes, and 15 Park owned.
Currently grossing around $12,000+ per month all with active 12 month leases.
5 of the park Owned homes were totally renovated with new luxury flooring, sheet rock & ceiling - with rents fetching around $1,000 each. (5 at more than $1000 per month, from between $1,000 to $1,175 each). Potential to update and increase rents on all other units.
Each of the other occupied Park Owned homes are rented for a minimum of $775 with potential to increase rents. 4 Tenant owned homes lot rent for between $415 to $500.
Potential to fill in all the county approved remaining Pads. Large lot of 6.46+ acres.
Tenants pay all utilities including Water, electric to the county. Owners pay for Lawn $150 per month, water ($400 per month) and common trash pickup service of around $215 per month. 100% of available units are occupied and rented with waiting list.
Huge labor market in nearby Carpet / Flooring capital of the US (Dalton / Ringgold) – with 100% occupancy and waiting list.
Short term seller financing possibility with minimum $400k down amortized over 25 years with balloon in 2 years.
Reach out to get more details.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£117,851
|
£0.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£117,851
|
£0.19
|
| Taxes |
£760
|
£0.00
|
| Operating Expenses |
£10,658
|
£0.02
|
| Total Expenses |
£11,417
|
£0.02
|
| Net Operating Income |
£106,434
|
£0.17
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £117,851 |
| Annual Per SF | £0.19 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £117,851 |
| Annual Per SF | £0.19 |
| Taxes | |
|---|---|
| Annual | £760 |
| Annual Per SF | £0.00 |
| Operating Expenses | |
|---|---|
| Annual | £10,658 |
| Annual Per SF | £0.02 |
| Total Expenses | |
|---|---|
| Annual | £11,417 |
| Annual Per SF | £0.02 |
| Net Operating Income | |
|---|---|
| Annual | £106,434 |
| Annual Per SF | £0.17 |
Property Facts
| Price | £979,125 | Apartment Style | Garden |
| Price Per Unit | £23,312 | Building Class | C |
| Sale Type | Investment | Lot Size | 6.60 AC |
| Net Initial Yield | 10.87% | Building Size | 609,840 SF |
| No. Units | 42 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1980 |
| Price | £979,125 |
| Price Per Unit | £23,312 |
| Sale Type | Investment |
| Net Initial Yield | 10.87% |
| No. Units | 42 |
| Property Type | Residential |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.60 AC |
| Building Size | 609,840 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1980 |
1 of 1
zoning
| Zoning Code | A-1 |
| A-1 |
1 of 21
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Capri Mobile Home Community | 277 Dogwood Ln
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