Opp Estates MHC

Opp Estates MHC is a mobile home park situated on 14.00 acres, with a 40-year operating history.​ It is currently zoned as a Mobile Home Park (MHP) and is not located in a flood zone.​ The park has been under the ownership of the current sellers for the past three years, during which time they have made significant infrastructure improvements, including $15,000 invested in new plumbing at the back of the park.​

The park contains a total of 67 pads, with 44 currently occupied.​ Of these, 52 are park-owned homes (POH), including 8 vacant units.​ Among the POH inventory, five are double-wide trailers.​ The owners have confirmed that none of the vacant trailers require removal from the property, and all vacant pads are capable of accommodating trailers.​ In addition, there are two tenant-owned homes (TOH), with the pad rental rate remaining unchanged for an extended period.​ The park does not have any trailers held for back taxes.​

Rental rates for the POH units average $550 per month for two bedroom homes and $600 for three-bedroom homes.​ The current owners have not raised rents during their three years of ownership but have worked to secure market rents for all new rentals.​ They maintain clear titles to all of the POH units.​ The park operates on annual leases, with four tenants currently behind on rent.​ Rent payments are accepted via CashApp, Venmo, and direct deposit at Southern Independent Bank.​

Regarding future plans, the sellers indicated that their focus would be on renovating the empty units and renting them at market rates.​ They are currently in the process of renting two additional units, expecting to have 46 units occupied by the end of March.​

The park benefits from city water and city sewer services, with tenants being direct-billed for both utilities.​ Tenants are also responsible for their own garbage and electric services, with no gas meters present on the property.​ The electrical pedestals are a mix of 100 and 200 amp.​

Infrastructure at the park includes paved roads, which are reported to be in good condition.​ The underground pipes are mostly PVC with some cast iron.​ Off-street parking is available for tenants.​ Tenants are required to mow their own pads, while the park management oversees mowing of the common areas and vacant sites.​ An onsite manager and maintenance personnel provide operational support.​

Opp Estates is available for purchase by either an all-cash or a bank financed offer.​ The existing mortgage is not assumable, and the owners are not offering seller financing as part of this sale.​

This offering represents a compelling opportunity to acquire a mobile home park with stable infrastructure, operational city utilities, and room for rent growth and increased occupancy.​

MR.​ LANDMAN, LLC is a licensed entity in the State of Alabama under AL LIC#000135326 - 0.​ Jonathan Fisher is a licensed Alabama Qualifying Broker under AL LIC#000134713 – 0.​

Location:

Opp, Alabama, is a city in Covington County with a population of 6,771 as of the 2020 census.​ Named after Henry Opp, a lawyer for the Louisville and Nashville Railroad, the city blends small-town charm with a stable economic foundation.​

The median home cost in Opp is $95,300, with home appreciation rising by 61.6% over the past decade and increasing 18.1% in the most recent year.​ The median age of Opp's housing stock is 48 years.​ The rental market is steady, with renters making up 27.6% of the population and a low rental vacancy rate of just 1.4%.​ Average rents in Opp are affordable, with 1-bedroom units averaging $570 per month, 2-bedroom units at $750, 3-bedroom units at $1,000, and 4-bedroom units at $1,230.​

Opp maintains a low unemployment rate of 2.8%, notably lower than the national average of 6.0%.​ While future job growth is projected at 29.9% over the next decade, this trails the national forecast of 33.5%.​ The median household income in Opp is $40,372 per year, compared to the U.​S.​ median of $69,021.​

Crime rates in Opp reflect a relatively safe community.​ Violent crime is rated at 22.4, just below the national average of 22.7, while property crime stands at 29.7, significantly lower than the U.​S.​ average of 35.4.​

Education is supported by several local schools.​ Fleeta School,
serving grades KG-8, is highly rated with a score of 9.​ Opp High
School (grades 9-12) and Opp Middle School (grades 5-8) each have a score of 5, while South Highlands Elementary School (grades KG-4) is rated at 6.​

Overall, Opp, Alabama, offers a cost-effective living environment with affordable housing, a stable job market, and a safe community, making it an appealing location for both residents and investors.​

•City water & city sewer!
•Almost 200K NOI annually!
•Under market rents!