RI Marketplace Online Auction Nov. 18-20, 2024
Auction site:

https://rimarketplace.com/auction/2219/rainbow-reserve-pleasant-grove-mobile-home-communities-birmingham-montgomery-al-msa?utm_source=mhp_store&utm_medium=listing_paid&utm_campaign=external&utm_content=multifamily_2219

Friedman Real Estate, in conjunction with RI Marketplace, is excited to present the exclusive marketing and sale of Rainbow Reserve and Pleasant Grove, two mobile home communities totaling 83 sites in Jemison, AL. Currently, the properties are approximately 80% occupied, generating an in-place NOI of around $250,000. There is significant potential for value enhancement, as the average lot rent is lower than that of competing parks in the area, which boast an average occupancy rate of 95%. This creates an opportunity for a new owner to increase rents and explore additional revenue streams.

Jemison, AL, located within the Birmingham-Montgomery MSA, combines Southern hospitality with a strong sense of community. The area offers easy access to vibrant cultural experiences and the natural beauty of central Alabama. Residents can enjoy nearby recreational opportunities, parks, and local amenities. With its strategic location and welcoming environment, Jemison presents an attractive opportunity for investment and growth in the mobile home park sector.

Daniel Culps
c/o Fisher Auction Company Inc.
License: 5070