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

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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

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