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Meadow View

Mobile Home Community for Sale in Auburn, Alabama

Auburn, AL 36832
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Sale Price: $636,000

Contact Information

Admin Agent

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: Sale Pending
Property ID: 902356
Posted on: Mar 03, 2018
Updated on: Jul 17, 2018
Price: $636,000

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.
DO NOT CONTACT MANAGER OR TENANTS

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:City
Water Paid By: Tenant - Individual Service
Sewer:Septic

Park-Owned Homes

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