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%
* This payment calculator is intended for educational and planning purposes only. ** Assumes 6.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
Information is provided in part by the IDX program of the Baldwin REALTORS® Association. All information provided is deemed reliable but is not guaranteed and should be independently verified.
Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.
