Millie Estates MHP - OPP, AL
Value Add | Seller Financing MHP, AL
Marketing description
Discover the charm of Opp, Alabama, a quaint and inviting community with a thriving charm. Nestled in the heart of the state, Millie Estates MHP - Opp, AL, offers a tranquil setting and a strong sense of community. Residents can enjoy the nearby Frank Jackson State Park, a haven for outdoor enthusiasts, as well as the excitement of Opp's annual Rattlesnake Rodeo and other local events. The area boasts convenient access to dining, shopping, and local schools, making it an ideal location for a Multifamily / Mobile Home Park investment. Embrace the warmth of Southern hospitality in this vibrant and welcoming neighborhood.
42 Lot Mobile Home Park with large value add opportunity by infilling vacant lots. Currently 8 Tenant owned homes paying $130 - 150 a month rent. Market rent in the area is over $300 a month. Ownership has recently removed old vacant homes and cleaned up grounds. Seller financing will be considered for qualified buyers.
Investment highlights
- Large Upside in-filling vacant lots
- 8 TOHs currently paying less than 1/2 of market rent
- Rent Roll currently covers holding expenses and provides some cash flow.
- Priced at approx. $7,700 a lot, far below development cost
- City utilities located on each lot, condition & Specs. to be verified by buyer
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