198 Woodland Rd
Wetumpka, AL (Just North of Montgomery)
$475,000
10% Cap Rate
MONTGOMERY, AL MHP: RARELY
Available Manufactured Home Community Available in
Montgomery Alabama Area. Key Features of the
property:
1. Over 50 total lots in
community. All lots are a minimum of 1/2 acre.
Could easily fit 175+ lots if designed like
traditional MHP.
2. RECORDED SUBDIVISION: This
is a platted subdivision, offering ability to easily
sell off individual lots. Conservative market value
of developed lots is $20,000 - $25,000; partially
developed lots $10,000 - $15,000.
3. EXCELLENT LOCATION. Located
in desirable Elmore County, AL (one of the fastest
growing counties in AL), just north of Montgomery,
AL. Brand new elementary school is near completion
just up the road. Majority of housing in area is
mid to upscale single family housing.
4. UTILITIES: All Roads,
Power Lines and Water are in for entire community.
The entire water system was replaced with individual
meters installed in 2005-2006. Invested over $100K
in infrastructure improvements in 2005-2006.
5. On-Site MANAGEMENT: On-site
management is in place for a true turnkey operation
from day one.
6. UPSIDE: Tremendous upside
potential. Invested an additional $100k in 2007 in
the purchase of 6 mobile homes for rentals.
Completely rehabbed and rented 4 of the homes. 2
More need to be completed. In addition there are
over 30 Lots that are not currently in use. With
some additional short term investment, the property
could gross over $20,000 per month.
7. Current NOI of ~$40k per year.
