63 valley view dr

DO NOT DISTURB TENANTS! They do not know property is for sale. Very well located trailer park close to downtown Cartersville which has 10 lots with trailers, a house and also one vacant lot. Utilities are paid by the tenants: city water and sewer, trash pick up and electricity. This mobile home park has multiple rehabbed rent to own homes however, there also is a remodeled single family house, a rented lot and a couple of renovated park owned units. Over half of the units are from the mid-late 90's to early 2000's. The gross annual income continues to increase on this property with more upside in 2020. Now, when you combine a strong labor market, lack of affordable housing, proximity to many employers, shopping and the interstate, you quickly come to realize that there is no shortage of demand from people who want to occupy these units. In 2018 the CAP Rate was an 11.5. In 2019 that number decreased because of long term capital expenditures, and renovation of multiple units. Nevretheless, currently that number is higher than in 2018.The income and expenses are actual numbers with rental income growth in 2019 and gross of over $100,000 which is above 2018's #'s. The best part of the property is its location and its existing zoning which will allow one to either build many apartments or townhomes on it if you should decide to redevelop it. There is a potentail for owner financing for the right purchaser.