Property Description
Arab, Alabama....near Lake Guntersville in North central Alabama about an hour north of B'ham between Cullman and Guntersville, this is a nice park with city sewer water and everything is separately metered. The 56 lot/pad park has 7 acres and asphalt streets. There is room to add 2-3 more pads or rv lots. There are 40 park owned homes now. Park has about 10 vacancies now. The park has monthly lot rental and monthly unit rentals...the park has one water meter and everybody is charged pretty much a flat rate. Park has a good manager that lives on site in a late model doublewide and will stay but is limited in ability. Park sits high and dry about a mile from downtown on south Main Street.. I have met with the bank near the park that is handling the financing now and they will finance a new buyer with $150k down and a sales price of $950,000.. The park is netting around a $100k now...The owner is very busy running a local GM car dealership and is selling all of his real estate!! Make an offer!!
