ELBERTA... Happy Arces MH Park/ plus 3.3ac single family brick home

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30343779
Property Subtypes: Mobile Home Park
Status: Pending
Number of Units: 21 Units
Building Size (RSF): 900 SF
Gross Building Area: See Agent
Gross Land Area: 7.50 Acres
Sale Price: $850,000 - 1,175,000
Unit Price: $40,476.19 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 9.0%
Average Occupancy Rate: 80
Vacation Rental Income: Yes
Last Updated: 4/26/2019

Overview / Comments

Contact Agent for new details on this "Hands on owner, old school".. Lots of room to grow.. 7.5 Acres on a beautiful lot with pecan trees, improved roads, 2 paved roads coming into park with road frontage on St hwy 98 Elberta Al. Currently 12 Rentals (current rent roll $7210.00) and 12 empty lots. This will change this month/as 2 new 2010 MH's are getting set up and should be in place by 2/10/2019. Will rent for $600 each (2bed 1 bath), plus a 2bed2 bath also going in. Should rent for $750. Will bring projected rent rolls up to $9,160.00..MH park includes 3 homes, one home used for supplies. All MH's (except one) and 2- RV's are park owned!! Approximately another 2.5 acres to develop, with a pond on the south West corner. 2 wells. Rebuilt septic systems. . Buy just the park, or buy both, brick home next door.
Parcel property #2 PPIN 099709 right next to this park..(makes this total size together for both park and home estate at 10.3 acres)
PPIN 099709 is a 3.3 acre, 2247 sq ft brick home, that rents for $1500 a month. Also included with this home is a 2500 sq ft++ shop... So add this to current rent rolls, you have $8610.00 per month without the 3 MH's coming into park... (owner will finish and set these new units) Lets make a deal. No deferred maintenance but plenty of room to grow!! Baldwin county. Lets make a deal. OK DO I HAVE YOUR ATTENTION?

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Tax ID/APN: 05-53-08-27-0-000-005.000
Zoning: ZONED
Percent Occupied: 80%
Property Located Between: Elberta al and Foley Al
Highway Access: State Hwy 98
Property Condition: Good
Legal Description: 7.5 acres parcel# 53-08-27-0-000-005.000 PPIN# 035948

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,606 5,424
Median Age: 42.22 44.08
Households: 1,814 2,199
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