Auburn, AL Portfolio
Auburn AL - 4 Properties | 490 Units
Marketing description
BWE is pleased to present the Auburn, AL Manufactured Housing Portfolio — four communities totaling 490 home-sites across the Auburn MSA, anchored by Auburn University. At 93% occupancy with strong in-place lot rents averaging $455/month, the portfolio delivers reliable cash flow with significant upside through rent growth to market and continued infill of the 32 vacant lots. All four communities are serviced by direct-bill city water, with Stonegate also on direct-bill city sewer and the remaining three on septic; trash is community-billed across the portfolio.
The portfolio offers an institutional buyer the rare advantage of scale within a single high-growth college town — all four communities sit within roughly 6 miles of Auburn University’s campus, enabling a single management team to operate the entire portfolio efficiently. With in-place rents 25%+ below market comps (and as much as 45% below new move-in rates at competing communities), all paved roads, no flood zone exposure, and no deferred maintenance, the portfolio represents an agency-financeable acquisition with an immediate and clear path to NOI growth.
Investment highlights
PRIME LOCATION WITHIN THE AUBURN MSA
All four communities sit within the Auburn-Opelika MSA, anchored by Auburn University (35,000+ enrollment) — one of the Southeast’s premier college towns with consistent population growth, a tight labor market, and chronic undersupply of affordable housing.
AGENCY FINANCABLE PORTFOLIO
With 93% portfolio occupancy, public water across all four communities, all paved roads, and no deferred maintenance, the portfolio meets key agency lending criteria — providing access to favorable long-term, fixed-rate financing from day one.
SIGNIFICANT NOI GROWTH VIA RENTAL UPSIDE
Current portfolio average lot rent of $455/month compares favorably against in-market comps averaging $575 (with new move-ins at competing communities reaching $835), representing 25%+ immediate upside and a clear runway for measured rent increases through mark to market increases on students.
PUBLIC UTILITIES & TURNKEY CONDITION
All four communities are on direct-bill city water, with Stonegate also on direct-bill city sewer. Trash is community-billed across the portfolio. The portfolio is delivered with all paved roads, no flood zone exposure, and no deferred maintenance.
CLOSE PROXIMITY OF ALL COMMUNITIES
All four communities are within minutes of each other and within 6 miles of Auburn University’s campus, enabling a single on-site management team to oversee the entire portfolio efficiently — a rare operational advantage that reduces overhead and simplifies execution.
STUDENT HOUSING DEMAND DRIVER
Three of the four communities (Arrowhead, Stonegate, and Creekside) operate at 90%+ student housing occupancy, providing consistent year-over-year turnover and absorption tied directly to Auburn University’s record 35,000+ enrollment. South Ridge serves the broader workforce population, providing tenant-mix diversification.
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