Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 12.8%
  • Property ID: 1393106
  • Posted On: Feb 14, 2021
  • Updated On: Feb 24, 2021

Property Description

Park Website: http://www.liveatrfi.com/
*additional documents - downloadable at bottom of page under map*

Available for assignment at $300,000

Address: 3311 36th Street Tuscaloosa AL 35401
Parcel ID: 63 31 08 33 1 021 001.000

15 occupied mh pads (6 Park owned Homes, 3 3/2s and 3 2/1s, 4 '90's models with titles, 1 '78 model BOS included, 1 not sure year BOS Included), + 1 rented stick built house (rents for $515/mo). City water city sewer direct billed, Paved Roads (need work but asking price reflects large discount), no infill potential.

9 lot renters currently at $150-175, Market is $350 (confirmed through associate who has a 325pad in the area)

Rent roll (Attached below) - I were holding I would raise lot rents to $250 effective immediately, which equates to $45,000 gross lot rent per year NOT INCLUDING additional income from the site built house or LTO payments.

Pictures of some POH's and TOH's:
https://app.companycam.com/galleries/vL6NhgRR

Location

3.5mi or 9min drive to The University of Alabama! Strong job market, population growth, and high demand for affordable housing. Park is 2 blocks away from Shelton State Community College.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 15
Total Occupancy: 100.0 %
Average MH Lot Rent: $155
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $52,471
Operating Expense $14,210
Net Operating Income $38,261
Expense Ratio 27.1 %
Debt Info

Lot Information

Singlewide Lots: 15

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $555

Download Documents

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