Contact Information

Mobile Home Park Details

  • Price: $1,500,000
  • Cap Rate: 7.8%
  • Property ID: 1255282
  • Posted On: May 13, 2020
  • Updated On: May 13, 2020

Property Description

The park has 68 lots with 17 lot rent only tenants, paying an
average rent of $290 per month. There is 18 vacant lots, 6 rented
POHs, and 27 RTOs. Current occupancy is roughly 74%.
There are 6 park owned homes plus 27 RTO units that were sold
for an average of $20K-$25K with strongly vetted buyers. The
tenant owned units are in good shape with majority of them
being early 2000’s models and some newer homes. The privately
maintained roads are gravel and delivered in new condition.
The park has city water that is sub-metered and is billed back to
the tenants. The park uses a 3 pump 3 mound septic system, in
excellent working order. The park is NOT in a flood zone. Located
in an excellent location near all amenitites and just minutes to
downtown Athens.

Location

Athens AL (Huntsville AL MSA) - Extremely well located, value-add MHP with plenty of up-side in strong, growing market.

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Park Information

Number of MH Lots: 68
Total Occupancy: 74.0 %
Average MH Lot Rent: $290
Size: 30 acre(s)

Financial Information (Actual)

Net Operating Income $83,729
Debt Info

Utility Information

Water: City
Sewer: Septic

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