Gopher Ridge Mobile Home Park

We are excited to announce the acquisition of Gopher Ridge Mobile Home Park, a unique vacation/retirement community located in Fort Gaines, Georgia. Situated on the picturesque Walter F. George Lake, this 55-site park offers tenants a tranquil setting with access to water-based activities, including a dedicated beach area, docks, and boat launch. The park has a loyal tenant base, with some tenants residing there for generations. 

Gopher Ridge currently operates with well water and on-site septic systems. The park is predominantly a seasonal, vacation-oriented community which limits the wear and tear on the roads, well, septic systems, and amenities. Recent infrastructure upgrades include the installation of new internet wiring, a new sea wall, and an upgraded boat launch and dock. 

Our business plan is straightforward: increase occupancy by filling vacant sites with new homes and/or long-term RVs while increasing rents from $400/month to market rate, which is currently over $650/month. We’ve reserved $241,000 for moving in five new homes and to handle miscellaneous repairs on two park-owned homes.  

This acquisition aligns perfectly with our strategy to acquire high-quality assets in strong markets with clear paths to value creation. We are confident that Gopher Ridge will deliver exceptional returns and be a valuable addition to our portfolio. The acquisition was closed with seller financing of $1M for six years with interest-only payments of 6%. By filling the park and increasing rents to market, we project a value increase of $1,755,462 by year 6.