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Address is 420 Martin Luther King Jr Pkwy S Phenix City, AL 36869

Kevan Enger

Capstone Florida

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Laurel Manor Estates MHP

Mobile Home Park for Sale in Phenix City, Alabama

420 Martin Luther King Jr Pkwy S
Phenix City, AL 36869

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Sale Price: $2,100,000
 

Contact Information

Kevan Enger
Capstone Florida
www.capstoneapts.com

Mobile Home Park for Sale

Number of MH Lots: 127
Size: 17.1 acre(s)
Status: Sale Pending
Property ID: 893021
Posted on: Jan 29, 2018
Updated on: Apr 13, 2018
Price: $2,100,000

Property Description

Capstone Manufactured Housing is pleased to present Laurel Manor Estates in Phenix City, AL: a 127-site property with significant upside potential. The property boasts an ideal location within 5 minutes of downtown Columbus and convenient access to the region’s major thoroughfares. Strong value-add opportunities exist for new management with lot rents currently 54% below the market rate. This offering presents investors with the opportunity to acquire a well-located asset with significant value-add potential in a market with proven demand for affordable housing.

Investment Highlights

All-Ages Community
Proximity to Downtown Columbus
Lots Well Below Market Rate
Opportunity to Recapture Garbage Expense

Park Information

Number of MH Lots:127
Total Occupancy:93.0%
Year Built:1970
Size:17.1 acre(s)

Utility Information

Water:City
Water Paid By: Tenant - Submetered
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:101