Improved Multi-family subdivision/26 lots! Developer needed..

Multi-Family for Sale
Catylist Listing ID: 30287349
Property Subtypes: Mobile Home Park, Other
Number of Units: 26 Units
Building Size (RSF): 26,000 SF
Gross Building Area: See Agent
Gross Land Area: 9.78 Acres
Sale Price: $375,000
Unit Price: $14,423.08 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/17/2018

Overview / Comments

1) There are 28 total lots. Two of the lots have been sold. Of those two, one has a nice double wide on it with a family living in it, well kept. The other has no action on it yet as we can see. One of the 28 is marked as "Common Area" which is where we believe the 4 storm drains go to. We believe that this lot is habitable if an office was going to be built on the property this would be a good place to put it as it would not be visible from the road, maintaining curb appeal. This office might be required to be built on stilts but would be worth it as it would not take away from the other 25 lots (usable land). Bottom line is as it sets there are 25 useable lots in this deal. Once again this is an opinion.

The property has been completely developed as you can buy a lot and move in. The only exception to this claim of "completely developed" is sewage. The present owner claims that all of the lots have had perk test and have been approved for septic. We believe there are already 8 septic tanks on these properties. I was told that and when we walk the property we have found 4 of the mounds. The Board Of Health required mound systems in 2002 when this was approved but when we contacted them they said due to advancements the height of the mounds is no longer needed. These lots have County water, Power, asphalt road and curbs, two cul-de-sacs, height delineations. Bottom line is these properties have been completely approved to move in. This property is about a mile away from the Bay and access to the boat ramp that goes to Fowl River and Mobile Bay. (only 5 minutes away. contact Renee Beasley 251-978-9500

Additional Details

Nearest MSA: Mobile
County: Mobile

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,390 9,499
Median Age: 45.47 38.83
Households: 1,343 3,500

Contact

Photograph of Listing Agent

Renee Beasley

Sperry CGA-The Andrews Group Gulf Coast CMLS Member
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