Atlanta MH Portfolio

Atlanta MH Portfolio

Atlanta, GA
Available
  • Property Type: Manufactured Housing
  • Property Size: / 196 Acres / 863 Sites

Overview

Capstone Manufactured Housing is pleased to present the Atlanta Portfolio, consisting of 863 sites across five communities, Riverdale MHP, Pine Glen MHP, Deer Haven MHP, Southside MHP, and Central MHP. The communities are positioned within a 70-mile radius of each other and provide immediate scaled entry into the Atlanta MSA. The portfolio showcases direct-billed public utilities at 3 out of the 5 properties, removing a costly utility expense. Current ownership has employed extensive capital improvements between $4,500,000 and $5,000,000. They include paving asphalt roads, upgrading utility lines at new home sites, and installing many new park owned homes. The large number of park owned homes benefits a new owner as they can focus on filling the vacant homes first, as opposed to investing capital to purchase new homes to sell or rent. By leasing the 131 vacant homes at the current rents, the effective rental income increases by 39% (1,649,498). Furthermore, the portfolio lot rent is $89 below the market average. By focusing on an aggressive lease-up strategy, combined with raising rents in line with the market, a new owner can realize an extraordinary increase in income.

Investment Highlights

Scaled Entry Into Atlanta MSA

Significant Upside In Filling Vacancy

Opportunity To Increase Utility Recapture Rate

Public Utilities

Below Market Rents

Recent Capital Improvements Amount to $4.5M-$5.0M

Contact Information

Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
kevan@capstone-companies.com
Ian Hilpl Director P: 315.406.0900
O: 800.261.9464 ext. 708
ian@capstone-companies.com
Brian Hummell Senior Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
hummell@capstone-companies.com
Hunter LaRocca Investment Sales Advisor P: 407.227.9643
O: 800.261.9464 ext. 712
hunter@capstone-companies.com
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