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Meadow View

Mobile Home Park for Sale in Auburn, Alabama

Auburn, AL 36832
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Mobile Home Park for Sale

Number of MH Lots: 36
Size: 14.7 acre(s)
Cap Rate: 13.9%
Purchase Method: Cash, New Loan
Status: Sold
Property ID: 902356
Posted on: Mar 03, 2018
Updated on: Oct 15, 2018

Property Description

Solid 36 lot community, well taken care of. Tenants will welcome the option of converting over to a TOH. Vacancies are typically filled by word of mouth.
Well established mobile home community just 9 miles from Auburn University. Strong rental income with well maintained homes, 13 doubles and 22 singles. 14.65Acres. Additional 18 acres is available to build out 50 more lots. It use to be a 32 acre community.

Rural area but close to Auburn University.

Park Information

Number of MH Lots:36
Total Occupancy:95.0%
Average MH Lot Rent: $295
Size:14.7 acre(s)

Financial Information

Gross Income$158,879
Operating Expense$71,593
Net Operating Income$88,083
Expense Ratio 45.1%
Debt Info

Lot Information

Singlewide Lots:22
Doublewide Lots:13

Utility Information

Water Paid By: Tenant - Individual Service

Park-Owned Homes

Number of Park-owned Homes:30
Average Rent for Park-owned Homes: $495