Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.0%
  • Listing ID: 1530351
  • Posted On: Oct 6, 2021
  • Updated On: Oct 16, 2021

Description

For More Info: https://www.dropbox.com/sh/f9y7iu15a4b3s9q/AAAMnvCULLY3cMqsO0xBt_Mba?dl=0

22 lots located just 30 minutes to the Fla state line and 1.5 hrs to Panama City Fla. This little gem has been renovated with new septics, new water lines and new power. There are 10 existing singlewide homes all full with 6 new legacy 1/1 homes and 6 more ordered. These homes are energy efficient homes with a 21 seer cooling system. The new homes come with all new appliances, washer dryer, microwave, stove, refirg, and dishwasher.

The Dothan area is one of the hottest areas in Alabama. The population within a 25 mile radius is 555,232. The job market is over flowing. There are more jobs than people wanting them. Dothan is the 7th largest city in Alabama and the 529th largest city in the United States. Dothan is currently growing at a rate of 0.87% annually and its population has increased by 7.10% since the most recent census. There are plenty of businesses with jobs, jobs, jobs.

The New Legacy Homes all come with assumable leases.

Location

Level

Amenities

  • Handicap Accessible
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Park Information

Community Type: All Age
Number of MH Lots: 22
Total Occupancy: 98.0 %
Year Built: 2015
Average MH Lot Rent: $700
Size: 6 acre(s)

Financial Information (Actual)

Gross Income: $102,540
Operating Expense: $35,857
Net Operating Income: $66,683
Expense Ratio: 35.0 %

Lot Information

Singlewide Lots: 22
Park Model Lots: 22

RV Information

Number of RV Lots: 6

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $700

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