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Address is 37 Hwy 80 Phenix City, AL 36870

Barry Henson

EQUITABLE MANAGEMENT CORP.

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Rusk Mobile Home Park

Mobile Home Park for Sale in Phenix City, Alabama

37 Hwy 80
Phenix City, AL 36870

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Mobile Home Park for Sale

Number of MH Lots: 37
Size: 5 acre(s)
Cap Rate: 10.0%
Purchase Method: Cash, Seller Financing
Status: Active
Property ID: 789740
Posted on: Mar 03, 2017
Updated on: Jun 17, 2018

Property Description

37 lot rent only park on septic and county water...26 lots paying. rents haven't been raised in years,which is the first thing you can do..city sewer water is next door..park is seperately metered if u want to read meters,then u can...Park is netting over $22k/yr..rents are the lowest in 'bama at $112/mo...need to go to $150 when you buy the park......owner runs park himself but knows of 2 good tenants who can be manager..owner wants a cash offer ,but might finance it at experience....park has 2 units in it that could be foreclosed and rented or sold...... $250k cash at close..or finance with a whole lot down...say 175k,,.finance 75-80k,etc...this is a deal..SEE THIS AT EMCPARKS.COM

Park Information

Number of MH Lots:37
Total Occupancy:70.0%
Year Built:1990
Average MH Lot Rent: $112
Size:5.0 acre(s)

Financial Information (Actual)

Gross Income$42
Operating Expense$14
Net Operating Income$27
Expense Ratio 33.3%
Debt Info

Lot Information

Singlewide Lots:37

Park-Owned Homes

Number of Park-owned Homes:0


Zip codes in Phenix City, AL


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