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SIG Marketing

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Price: $449,000
Cap Rate: 5.1%
Listing ID: 6734268
Posted On: Sep 23, 2024
Updated On: Oct 17, 2024

Description

This Deal Includes a 14 Unit Park With Current Lot Rents Well Below Market Levels and a Pro Forma Cap Rate of 12% + at Near Market Rent Rates. Tenant Maintained Mobile Homes and City Maintained Infrastructure Provide Operational Advantages Over Other Parks.

PROPERTY HIGHLIGHTS
Upside in Rent Increases Near Market Levels Produce a 12% + Cap Rate
13 Lots Occupied By All TOH (Tenant Owned Homes)
1 - 3BR / 1 BA Single Family Homes
Low Maintenance Property
City Maintained Street
City Water and Sewer Direct-Billed
Residents Clean Their Own Space
All Tenant Owned Mobile Homes - Homes and Lots Maintained at Tenants Cost
Convenient in Town Troy Location With Shopping and Distillery Nearby

Community Type:	All Age
Number of MH Lots:	14
Total Occupancy:	93.0 %
Size:	4 acre(s)

Gross Income:	$31,200
Operating Expense:	$8,100
Net Operating Income:	$23,100
Expense Ratio:	26.0 %
Debt Info:	93

Water:	City
Sewer:	City

Trojan Way Mobile Home Park 208 Trojan Way, Troy, AL 36081

For Sale $449,000

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SIG Marketing

Mobile Home Park Details

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Park-Owned Homes

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SIG Marketing

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