Description
This +/- 2 acre mobile home park is situated near the main area of Brewton, AL. This park currently has the infrastructure to accommodate 10 mobile homes on the lot with the available to put more if desired (up to 14-18 additional units). 2 Mobile Home's are occupied at a "Friendly" Rental Rate. The others mobile homes have been used for storage and have not been lived in for a while. The park currently has a septic tank and power for up to 10 mobile homes. Some infrastructure will need to be done in order to fill the mobile home park to its maximum. Up to 14-18 pads can be had on this lot with a market rental rate of $400 per pad with tenant paid utilities. Infrastruture needed will include additional septic tanks, water, and power poles. Asking price is based upon Monthly Income opportunity after accounting for cost of infrastructure to maximize NOI. Park Pro Forma: With an estimated $100k of additional infrastructure cost and a projected NOI of $67,200 - $86,400 this park features a lot of potential to create serious cash flow. Minimum projected cap rate after cost of additional infrastructure: 16.8%
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6BEDS
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2ACRES
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3BATHS
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01/2 BATHS
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5,000SQFT
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$60$/SQFT
School Information
Description
This +/- 2 acre mobile home park is situated near the main area of Brewton, AL. This park currently has the infrastructure to accommodate 10 mobile homes on the lot with the available to put more if desired (up to 14-18 additional units). 2 Mobile Home's are occupied at a "Friendly" Rental Rate. The others mobile homes have been used for storage and have not been lived in for a while. The park currently has a septic tank and power for up to 10 mobile homes. Some infrastructure will need to be done in order to fill the mobile home park to its maximum. Up to 14-18 pads can be had on this lot with a market rental rate of $400 per pad with tenant paid utilities. Infrastruture needed will include additional septic tanks, water, and power poles. Asking price is based upon Monthly Income opportunity after accounting for cost of infrastructure to maximize NOI. Park Pro Forma: With an estimated $100k of additional infrastructure cost and a projected NOI of $67,200 - $86,400 this park features a lot of potential to create serious cash flow. Minimum projected cap rate after cost of additional infrastructure: 16.8%
Listing information © 2024 Baldwin County Association of REALTORS® MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Sweet Life Realty. Data last updated 2024-02-22T00:27:57.86.
Listing provided by Alliance Real Estate: . Listing information © 2024 Baldwin County Association of REALTORS® MLS.