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Address is 331 County Road 731 Clanton, AL 35046

Michael Griffith

sole proprieter

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Magnolia Mobile Home Park

Mobile Home Community for Sale in Clanton, Alabama

331 County Road 731
Clanton, AL 35046

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Sale Price: $450,000

Contact Information

Michael Griffith
sole proprieter

Mobile Home Park for Sale

Number of MH Lots: 14
Size: 30 acre(s)
Purchase Method: Cash
Status: Active
Property ID: 891010
Posted on: Jan 03, 2018
Updated on: Sep 07, 2018
Price: $450,000

Property Description

14 park owned units,2 units are in but need finishing inside repairs. 12 units are rented or being cleaned and any repairs needed are being completed. 30 acres, onsite park management and maintenance. Development rules changed 2 years ago and this park is grandfathered in. Has a small pond. Good cash income also very good tax shelter. Manager has lived in this park for 8 years, dependable and honest. Takes care of 90% of maintenance including plumbing, painting, carpentry, a.c. and some electrical problems. Does cleaning and spraying etc. land will support up to 90 units.

Park Information

Number of MH Lots:14
Total Occupancy:75.0%
Year Built:2003
Average MH Lot Rent: $535
Size:30.0 acre(s)

Financial Information (Actual)

Gross Income$60,000
Operating Expense$15,000
Net Operating Income$45,000
Expense Ratio 25.0%
Debt Info

Lot Information

Park Model Lots:14

Utility Information

Water:City
Water Paid By: Park
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:14
Average Rent for Park-owned Homes: $575