One of the only mobile home parks left in Alabama's largest city, this hidden gem is turnkey, ready for the next investor to earn big with little-to-no maintenance needed. This Birmingham-based park has 59 units spread out over 7+ acres in the heart of downtown and runs smoothly for an absentee owner. The homes are in such demand that there is rarely a time when the park is not 100% occupied; this likely has to do with the below-market lot rent, which gives the park major upside. And since the park is tucked away with natural geographic boundaries, there is relatively no crime or vandalism despite the inner-city location. It helps that there is a brand new police station that sits adjacent to the park.
This cash-flowing gem has desirable city water and city sewer. The park owns only 4 of the homes; the rest are owned by tenants who love being there and show pride of ownership.
Owner turned this park around over the past 18 months and is ready to move on to a new project. Don't be afraid to ask questions. Owner is very open and honest with nothing at all to hide. Nothing has been exaggerated. Bring all offers. Cash, new loan, or assumable loan with 50% down. Prospective buyers must provide proof of funds and/or pre-approval letter. No offense to anyone, but in the past we have wasted hours talking with someone who didn't even have a means to purchase. I will provide P&L and bank statements verifying park income and expenses to those who are serious and provide a Letter of Intent with POF/PAL.
