Pinederosa Park | MHP

3819 Karleen Rd, Hephzibah, GA
For Sale
$2,000,000
$2,000,000
Pinederosa Park | MHP, 3819 Karleen Rd, Hephzibah, GA
View Offering Memorandum

About the property

Jennifer Stein Real Estate, in conjunction with CRI Real Estate, is pleased to present Pinederosa Park — a 60-pad manufactured housing community in the greater Augusta, Georgia metro area offering a compelling value-add opportunity with rare, investor-friendly seller financing.

The property is 43% occupied with 26 of 60 sites filled — 14 park-owned homes (POH) and 12 tenant-owned homes (TOH). The remaining 34 sites are vacant and utility-ready: 20 have homes available and 14 are open pads. An investor has the ability to more than double occupied site count with no major infrastructure investment, creating a clear and executable path to significantly higher NOI

The seller is offering owner financing, preserving capital and maximizing early cash-on-cash returns. For qualified buyers, the seller is also open to creative financing structures — a distinct advantage in today's lending environment

Augusta's strong demand for affordable housing provides a deep prospective tenant pool, including residents qualifying for Section 8 and other housing assistance programs, supporting a reliable lease-up trajectory.

Pinederosa Park presents a rare combination of immediate income potential, significant occupancy upside, and flexible seller financing — making this an exceptional opportunity for investors looking to acquire a well-positioned asset on favorable terms. 

Join our buyers list for first access to more upcoming opportunities, or contact our team today to learn more.

Investment Highlights

  • Value-Add Asset: Recent improved community with value-add opportunity.
  • 43% Occupied: Immediate upside with lease-up of the vacant lots and vacant units.
  • All-Age Community: All-age, family-oriented community
  • Lease-Up Vacant Spaces: New tenant rents achieving up to $400 per month.
  • Strong Market: Major nearby employers include Fort Eisenhower and Augusta University Medical Center
  • Immediate Upside: Near-term growth potential through infilling vacant sites and leasing up POH's.
  • Expansion or infill potential
  • High demand asset class
  • Limited local competition
  • Resilient cash flow profile
  • Expense optimization potential
  • Stable tenant base
  • Flexible hold strategy
  • Favorable demographics
  • NOI growth opportunities
  • Defensive market performance
  • Long-term income stability
Units
60
NOI
$129,836
Cap Rate
6.49%
Occupancy
43%
Investment Type
Value-Add
Property Type:
MHP

Offering Memorandum

To review the offering memorandum and supporting materials, please submit your contact information below.

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Thomas Beniamen
Thomas Beniamen
Vice President of Investments
Thomas Beniamen
Vice President of Investments
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