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7640 Old Hwy 259, Waynesville, GA 31566

For Sale

$595,000

12,812 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $46.44
    Price per square foot

Explore this Property

Stabilized, proven, and affordable opportunity for savvy investors seeking immediate cash flow and value-add play! Located in Waynesville, Georgia, "Shady Oaks" mobile home park is 5.90 acres featuring 14 mobile homes, 1 stick-built home and 2 vacant lots (17 total "pads") spaced out in a quiet, rural setting, offering tenant privacy. Strong tenant demand and room for expansion, this asset is well-positioned for continued income and future growth. All 14 mobile homes are single-wides and parked-owned ("POH"), each with its own septic tank. 2 separate wells on site. 2 empty lots on site are shovel ready and ideal for future development or additional units. Mobile home models are 1970 1996 offering a mix of vintage and more modern units. Multiple on-site storage structures can provide added rental or utility potential. Minimal competition, and consistent demand for affordable housing in this submarket keep the tenant prospects lined up with quick turns. Potential to increase rents, modernize units, and / or develop additional pads, the best days are ahead for this park and your investment. Potential Gross rent roll is $9,265 / month with mobile home rents ranging from $515-$700 / month. Stick built home recently rented for $900 / month. Proforma cap rate is 10.27% at 45% operating expense factor!!! Rent roll and financials available to qualified prospects.
MLS# 145583

Courtesy Of COLDWELL BANKER PREMIER REAL E

(229) 244-3535

Property Features

  • Architecture Style
    Other
  • Lot Size
    5.9 Acres

Map and Directions

Directions to 7640 Old Hwy 259, Waynesville, GA 31566

Home seller CENTURY 21 Crest Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Crest Realty

(912) 882-7378
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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