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.
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