Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.0% (Actual)
- Listing ID: 1530351
- Posted On: Oct 6, 2021
- Updated On: Oct 16, 2021
Description
For More Info: https://www.dropbox.com/sh/f9y7iu15a4b3s9q/AAAMnvCULLY3cMqsO0xBt_Mba?dl=0
22 lots located just 30 minutes to the Fla state line and 1.5 hrs to Panama City Fla. This little gem has been renovated with new septics, new water lines and new power. There are 10 existing singlewide homes all full with 6 new legacy 1/1 homes and 6 more ordered. These homes are energy efficient homes with a 21 seer cooling system. The new homes come with all new appliances, washer dryer, microwave, stove, refirg, and dishwasher.
The Dothan area is one of the hottest areas in Alabama. The population within a 25 mile radius is 555,232. The job market is over flowing. There are more jobs than people wanting them. Dothan is the 7th largest city in Alabama and the 529th largest city in the United States. Dothan is currently growing at a rate of 0.87% annually and its population has increased by 7.10% since the most recent census. There are plenty of businesses with jobs, jobs, jobs.
The New Legacy Homes all come with assumable leases.
Location
Level
Amenities
- Handicap Accessible
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 22 |
| Total Occupancy: | 98.0 % |
| Year Built: | 2015 |
| Average MH Lot Rent: | $700 |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $102,540 |
| Operating Expense: | $35,857 |
| Net Operating Income: | $66,683 |
| Expense Ratio: | 35.0 % |
Lot Information
| Singlewide Lots: | 22 |
| Park Model Lots: | 22 |
RV Information
| Number of RV Lots: | 6 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $700 |