12% CAP Mobile Home Park in Elberta

Multi-Family for Sale
Catylist Listing ID: 30557475
Property Subtypes: Mobile Home Park
Number of Units: 19 Units
Building Size (RSF): 2,000 SF
Gross Building Area: See Agent
Gross Land Area: 3.20 Acres
Sale Price: $825,000
Unit Price: $43,421.05 Per Unit
Property Use Type: Investment, Business
Building Name: Hilltop Estates
Sale Terms: Cash to Seller
Cap Rate: 12.0%
Average Occupancy Rate: 100
Last Updated: 9/20/2020

Overview / Comments

This 19 lot, turnkey mobile home park is a producer! Boasting 11, 100% occupied, park owned homes and 8 additional lots that have full utilities, this park is primed to generate huge returns. The 11 park owned homes are generating $9,400 a month in gross revenue. The remaining 8 lots can be easily rented out to beef up the income without spending a dime; or they can be finished out by the new owner to almost double the revenue! It's almost like getting two parks for one! The current owner is a licensed MH dealer and is willing to help the new owner fill out the park at a discount. This park is super clean; all but one of the park owned homes have been remediated. Call your favorite agent today for more information.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Taxing Authority: Elberta
Tax ID/APN: 234390

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Demographic Statistics

Proximity: 5 miles
Total Population: 6,951
Median Age: 40.82
Households: 2,665

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