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    40 Highland Park Ln Alexander City, AL 35089

    For Sale
    $585,000

    Alabama MHP: 19 Pads, High ROI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 19-pad mobile home park situated on 30 acres in Kellyton, Alabama, near Alexander City. Built in 1980, the park currently boasts 15 occupied lots and 4 vacant lots, offering immediate income and significant upside potential. The property features a direct-billing structure for electricity, with city water and septic sewer systems in place, minimizing operational expenses. The strong demand for affordable housing in this growing community, coupled with the low operating costs and the potential for developing the vacant lots, ensures a stable cash flow and attractive return on investment. Alexander City's location on the shores of Lake Martin contributes to its appeal as a residential and recreational destination, further bolstering the demand for affordable housing options. The diverse local economy, encompassing manufacturing, retail, and tourism, provides a stable foundation for continued growth and property value appreciation. The park's 7.50% capitalization rate and a net operating income of $43,889 contribute to its strong financial profile. This property offers a compelling combination of immediate returns and long-term growth prospects in a desirable Alabama market. The asking price is $585,000.

    Property Features for 40 Highland Park Ln

    General Information

    Property type
    Multifamily properties
    Lot Size
    1,306,800 SF

    Building Details

    Year Built
    1980

    HighLights

    • Strong cash flow from existing lot rentals.
    • Significant upside potential through vacant lot development.
    • Low operating expenses and streamlined property management.
    • Excellent location in the growing Alexander City market, benefiting from tourism and regional economic activity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Alexander City
    County
    Coosa
    State
    Alabama
    Longitude
    -86.0136206
    Latitude
    32.9112336

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    FAQs

    What type of property is this?
    Multifamily property - Alabama MHP: 19 Pads, High ROI
    Where is this multifamily property located?
    The property is located at 40 Highland Park Ln Alexander City, AL.
    What is the asking price?
    The asking price for this property is $585,000.
    What are key features of this property?
    This property features: Strong cash flow from existing lot rentals.; Significant upside potential through vacant lot development.; Low operating expenses and streamlined property management.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    40 Highland Park Ln Alexander City, AL 35089
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