10
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Listed by Drew Lekowski • MRG Realty Partners
$2,150,000
Est. payment /mo
New
120 Pine Cir Ellaville, GA 31806
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Byron Place
MLS Listing ID 3260288
HOA Y/N No
Year Built 2004
Annual Tax Amount $439
Lot Dimensions 450X300
Property Description
MRG is pleased to present the Pineview MHP Portfolio, a 52-pad manufactured housing portfolio spanning five properties across Phenix City, Alabama, and Ellaville, Georgia. This portfolio offers a compelling combination of immediate in-place cash flow and significant value-add potential through the lease-up of vacant pads and the opportunity to increase below-market rents over time as units turn. Recent capital improvements have reduced near-term deferred maintenance needs, allowing a new owner to focus on operational execution and revenue growth. Spanning two states, the portfolio provides geographic diversification while offering an attractive basis for a multi-property acquisition with both stable income and meaningful upside.
alue-add lease-up opportunity — approximately 10 of 52 pads are currently vacant or under-utilized, offering meaningful upside as they're brought online
Wide rent spread across occupied units ($350–$1,150/month) signals room to push below-market rents up to comps at turnover or renewal
Attractive basis at roughly $41,300 per pad and ~7x gross rental income — a low entry point for a 52-pad, 5-property portfolio
Trash expenses are now being billed back to the tenant.
Recent capital investment in septic systems, roofing, plumbing, road work, and unit renovations reduces near-term deferred maintenance risk
Two-state, two-submarket footprint (Phenix City, AL and Ellaville, GA) spreads geographic and regulatory risk beyond just tenant-level diversification
alue-add lease-up opportunity — approximately 10 of 52 pads are currently vacant or under-utilized, offering meaningful upside as they're brought online
Wide rent spread across occupied units ($350–$1,150/month) signals room to push below-market rents up to comps at turnover or renewal
Attractive basis at roughly $41,300 per pad and ~7x gross rental income — a low entry point for a 52-pad, 5-property portfolio
Trash expenses are now being billed back to the tenant.
Recent capital investment in septic systems, roofing, plumbing, road work, and unit renovations reduces near-term deferred maintenance risk
Two-state, two-submarket footprint (Phenix City, AL and Ellaville, GA) spreads geographic and regulatory risk beyond just tenant-level diversification
Location
State GA
County Schley County
Zoning MHP
Interior
Heating Central
Cooling Central Air
Flooring Wood
Fireplace N
Exterior
View Y/N false
Private Pool false
Building
Story 1
Sewer Septic Tank
Water Well
Structure Type Brick
New Construction false
Schools
Elementary Schools Schley County Elementary School
Middle Schools Schley Middle High School
High Schools Schley Middle High School
Others
Senior Community false
Special Listing Condition Standard
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