Mobile Home Park Details

Listing ID: 6768440
Posted On: Nov 12, 2024
Updated On: Dec 17, 2024

Description

ONLINE AUCTION DEC 9-11
AUCTION SITE: https://rimarketplace.com/auction/2288/zehner-limestone-mobile-home-communities-huntsville-al-msa?utm_source=mhpstore&utm_medium=listing&utm_campaign=external&utm_content=multifamily_2288

Friedman Real Estate, in conjunction with RI Marketplace, is excited to present the exclusive marketing and sale of Zehner Reserve and Limestone Reserve, two mobile home communities comprising 31 sites located in Athens, AL, within the thriving Huntsville, AL MSA. These communities are currently around 78% occupied, generating a Net Operating Income (NOI) of approximately $107,000. Offering substantial value-add potential, these properties present an opportunity for new ownership to fill vacant sites, increase occupancy, and align lot rents with local market rates, where competing parks average 95% occupancy.

Location

Situated in the steadily growing Athens, AL area, the communities benefit from a favorable market for affordable housing, with a population of approximately 12,000 within a 3-mile radius, 40,000 within 5 miles, and 190,000 within 10 miles. The community is connected to public water and sewer systems, with individual meters for resident usage, facilitating efficient utility management. Athens provides residents with convenient access to northern Alabama's cultural and recreational amenities, making it an appealing investment environment with potential for growth in the mobile home park sector.

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

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Get Financing