Adams Mobile Home Park
Mobile Home Park with Development Potential | 35 Pads | 60 Developable
Marketing description
DEAL WEBSITE LINK: https://adamsmobilehomepark.sharplaunch.com/
Adams Mobile Home Park offers investors the opportunity to acquire a value-add manufactured housing community located in Milledgeville, Georgia. The property consists of 35 pads and 34 homes situated across just under 30 acres, with preliminary support from Baldwin County Planning & Zoning indicating the potential to expand the property by approximately 25 additional pads, subject to buyer verification and approvals. The site contains multiple areas that may support future development or operational improvements over time.
Current ownership has significantly improved the property through active management and operational enhancements while still maintaining meaningful upside through continued rent growth and stabilization. Current in-place rents remain below projected market levels, creating the opportunity for future revenue growth while continuing to provide affordable workforce housing within the market.
Milledgeville, GA, with a metro population of approximately 50,000 people, continues to benefit from ongoing economic development and workforce investment throughout the region. Recent growth initiatives include expanded operations by Fouts Brothers, development of a large Hilton hotel and convention center project downtown, and a $6.5 million state investment into Central Georgia Technical College (CGTC) supporting EV technology, advanced manufacturing, and mechatronics workforce programs. In addition, the Milledgeville-Baldwin County Development Authority continues to support local business expansion, industrial park development, job creation efforts, and broader strategic planning initiatives focused on strengthening the local business environment through 2027.
The property has experienced strong leasing demand, evidenced by growing waitlists for available units within the community. Additionally, the asset benefits from its location between several larger regional population centers including Augusta, GA (630,000 metro population), Macon, GA (233,000 metro population), and Atlanta, GA (6,400,000 metro population). As of December 2024, unemployment within the Valdosta, GA MSA was reported at 3.9%, below the national average of 4.4%, further supporting long-term workforce housing demand fundamentals throughout the broader region.
Investment highlights
- 60+ PAD EXPANSION POTENTIAL - Baldwin County Planning & Zoning has expressed support for expanding the property to 60+ total pads. The attached appraisal supports an estimated $1,000,000+ land value alone, creating significant embedded upside beyond current operations.
- $116K-$200K+ ANNUAL RENTAL UPSIDE ($300,000+ PROFORMA RENTS) - Current rents are significantly below market, creating an immediate mark-to-market opportunity with approximately $116,000/year in projected rental upside based on current market rents alone. With Section 8 participation, projected upside increases to approximately $175,000-$200,000+ annually. Market rents remain below HUD thresholds, helping limit affordability risk while supporting long-term occupancy stability
- TURNAROUND & HEAVY LIFTING ALREADY COMPLETED - Much of the difficult operational turnaround work has already been completed, including improving tenant quality, stabilizing operations, and implementing stronger management practices. A new owner can focus on maximizing cash flow and capturing remaining upside rather than taking on a distressed repositioning from day one.
- SECTION 8 PROGRAM ACTIVATED - ADDITIONAL $50K-$75K UPSIDE - The property is now actively enrolled in the Section 8 program (see Dropbox documents and email correspondence), creating additional revenue optionality and the potential for an estimated $50,000-$75,000+ in annual upside ABOVE traditional market rents.
- 16-PERSON WAITLIST - STRONG AFFORDABLE HOUSING DEMAND - The property benefits from limited nearby competition, minimal new supply, and strong affordable housing demand. The asset currently maintains a 16-person waitlist, reinforcing the ongoing shortage of attainable housing in the region and the long-term value of stabilized affordable housing assets.
- RECENT RENOVATIONS - The property has undergone a complete renovation, minimizing operational expenses and capital expenditure requirements for the incoming buyer.
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