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Trailer Park Investment Property, Lake Lanier, Gainesville,Ga. |
Price: 320000 |
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(Click image for full size) Hello, Investment property here. This is a great investment for someone that wants to do it. It looks great on paper and will make a great retirement if you like doing this kind of thing. I don't. Here is your opportunity. 14 Unit Trailer Park. Appraised for $375,000 in 2004. I paid $370,000 13 units exist. I recently tore down one that was just unfixable. It is easy to put another one in its place. In the past 4 years we have replaced a large amount of flooring in the trailers. Remodeled most of them, replaced main plumbing lines and fixed all septic tank issues. We also just painted all of the trailers the same color and cool sealed the tops. Some of the trailers we carry the utilities on and $15 of the total rent is applied toward utilities so the following is not perfectly accurate. Bottom line, you should be able to make $20,000 to $30,000 per year if you do things semi right with this park. After it's paid for, it is a cash cow and the land values will have grown immensely. Potential Gross Income 11 mobile homes @ $125/Week Avg. x 52= $71,500 1 mobile home @ $115/ week Avg. x 52= $77,220 7.5% Vacancy & Loss $5,791 Effective Gross Income $71,429 Expenses Taxes $2,000 Insurance $1840 Maintenance $2,000 Dumpster $1032 Utilities $4800 Misc. $1,500 Total Expenses $13,172 Net Operating Income $58,257 This property has grown in value from our VAST improvements and the widening of the main road in front of it. Property for assemblage near it is selling for $400,000 per acre. The appraisal shows the property was ok'd for 32 trailers. The property size is 2.3 acres with a beautiful view! I have this property listed at $469,000. The listing is up in May. I am willing to lose my equity just to get out. I will sell this property by owner for $320,000. There is no room to negotiate, I will not owe money to sell it. If you feel the need to negotiate, the price is $350,000. I am an antique dealer. This takes away from what I do. --If you are serious, I would love to talk to you. Call me at 770-540-1939 Thanks! Charles
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