4915 US Highway 80
Selma, AL 36701

$2,300,000 USD

Manufactured Housing Mobile Home Park For Sale • 1,000 SF

Property Details

Property Type Manufactured Housing Mobile Home Park
Total Building Size 1,000 SF
Lot Size 55.93 AC
Building Class C
Year Built 1994
Zoning C

0 Transit Score

7 Walk Score

                
                    Highlights
                
                                Maximize Profit through POH Sales: Generate capital and reduce future expenses/reserves by divesting the 50 existing Park Owned Homes 
                            
                                Market-Rate Rental Upside: There is an opportunity to significantly increase the current average rental rates to align with prevailing market rents
                            
                                Quick Occupancy Win: Quickly increase occupancy from 14% to 32% by focusing on leasing the 39 currently vacant park-owned homes.
                            
                                As revenue grows from the infilling process, the expense ratio is projected to improve substantially, leading to significant increase in yield on cost
                            
                                Utilizing a home rental model (instead of just lot rental) is a viable option to shorten the time required for lease-up & potentially enhance returns.
                            
                                Located within 45 miles of Montgomery, a major employment hub with a population over 700,000.