Mobile Home Park Details
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Cap Rate:
10.1%
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Listing ID:
1221330
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Posted On:
Mar 2, 2020
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Updated On:
Oct 27, 2020
Description
Beck Partners is pleased to present For Sale Pine Tree Estates in Enterprise, Alabama. This park consists of 66 total lots with 64 being occupied by tenants. These lots are producing an average rent of $227 per month. This offering includes 30 park owned homes, with one home currently being used as an office. The park owned home inventory includes 16 homes that are 2000’s models or newer and 14 older homes that have been renovated in the last several years. The park is serviced by city water and sewer that is submetered and billed back to the tenants. The park benefits from excellent location and visibility on Hwy 134 just 2.4 miles from Walmart and 1.4 miles east of Boll Weevil Circle. There are approximately 19 additional acres included in the sale with frontage on SR-134 (Daily Traffic counts of 18,643) available for development. There is a high demand for affordable housing in the area as indicated by the 97% occupancy rate. The seller is slowly raising lot rents to $250 per month. There is immediate upside in renting out the POH being used as an office and continuing to raise lot rents to $250.
Location
Enterprise is located in Coffee County and is part of the Dothan –
Enterprise – Ozark Statistical Area with a population of 145,638. In
recent years Policom Corporation has ranked the Enterprise –
Ozark Micropolitan area as the strongest Economy in Alabama and
top 5% in the nation. The Enterprise economy is split evenly
between agriculture/agribusiness, military, industry, and retail and
service industries, with each sector claiming approximately 20% of
the economy. Enterprise is located just outside of Fort Rucker,
home of Army Aviation that has a daytime population of
approximately 15,700. The city itself has an estimated population
of 28,200 and has seen consistent growth over the last few
decades.
https://townsquarepublications.com/
business-industry-in-enterprise-al/
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Utility Information
Water: |
City |
Water Paid By: |
Tenant - Submetered
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Sewer: |
City |