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Capstone Manufactured Housing is pleased to present the Albany, GA Portfolio. This portfolio features 91 sites across two communities: Pleasant Hill and Worthmoore MHP. The communities are positioned approximately 10 minutes apart and provide immediate entry into the Albany MSA. This close proximity allows ownership to benefit from shared staffing, helping to reduce management oversight and expenses. The portfolio is currently operating at a 57% economic occupancy, and features below market rents, providing tremendous value add in the form of future rents and occupancy upside. Ownership has recently implemented over $850,000 in CapEx at the communities, primarily centered around bringing in and renovating 20+ POH, which are actively being leased up as they are completed. Additionally, Worthmoore MHP features public and direct-billed utilities; thus, optimizing the expense ratio, and in turn, generating a higher net operating income. This offering presents an opportunity to invest in a portfolio with scaled entry into the Albany MSA, as well as rental upside and value-add opportunities.
Recent Capital Improvements Totaling Over $850,000
Frontage to Us-82 With Immediate Access to the Albany, GA MSA
Immediate Upside in Filling Vacant Park-Owned Homes at Worthmoore
Below-Market Lot Rents
Shared Staffing Capabilities
Public & Direct-Billed Utilities at Worthmoore
Potential To Add 24 Additional Lots at Worthmoore