Contact Information
Mobile Home Park Details
- Price: $485,000
- Purchase Method: Cash, New Loan
- Cap Rate: 7.0%
- Listing ID: 6764093
- Posted On: Nov 5, 2024
- Updated On: Nov 5, 2024
Description
Under the Oaks Mobile Home Park for sale! 8 total units on 3.6+/- acres. Units consist of 1x renovated single family home + 7 mobile home lots (5 lots rented, 2 lots currently vacant, prepped and ready for new tenants) property is currenly bringing in $3,140/mo with potential for $4,080/mo with the additional 2 lots rented. Trailers are all tenant-owned new manufactured homes! This is a very low maintenance property with tenants owning their own homes, no owner maintenance is ever needed on the mobile homes. Owner maintains the single family home, park common areas and driveway, water line mains, and the septic tanks. The remaining vacant 2 lots have recently been finished, replumbed, prepped and are ready for new tenants. Located in the Beauregard School District. Listed by Jake Roland - eXp Realty
Location
Located in Opelika, AL, near Auburn, AL - Great location only 10 mins to Tiger Town Shopping Center, and 10 mins to Moore's Mill Shopping Center. 15 mins to Auburn University.
7007 Lee Road 146, Opelika, AL 36804
Park Information
Community Type: | All Age |
Number of MH Lots: | 8 |
Total Occupancy: | 75.0 % |
Year Built: | 1960 |
Average MH Lot Rent: | $440 |
Size: | 4 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $48,240 |
Operating Expense: | $11,604 |
Net Operating Income: | $36,636 |
Expense Ratio: | 24.1 % |
Lot Information
Singlewide Lots: | 7 |
Park Model Lots: | 1 |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Tenant - RUBs |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 1 |
Average Rent for Park-owned Homes: | $440 |
Download Documents
- Under The Oaks 7007 Lee Road 146 Cap Rate Estimate 1.xlsx
- Under The Oaks Rent Roll 2024 7007 Lee Road 146 Income.pdf
- Under The Oaks MHP MLS Sheet.pdf