3672 US Highway 29 Brewton, AL 36426

Features

• Price/sqft: $60
• Total Rooms: 8
• Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3

Facts

• Property ID: 845730215
• MLS Number: 356085
• Property Type: Other
• County: ESCAMBIA
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. 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 Homes 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%