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

For Sale     $449,000

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Contact Information

SIG Marketing

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Mobile Home Park Details

  • 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

Contact Lead Broker: William Capone
Email: wcapone@SIGnnn.com
Phone Number: 954-723-8342

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Park Information

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

Financial Information (Actual)

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

Lot Information

Singlewide Lots: 13

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 1

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