16569 Limestone Rd Athens, AL 35611
- Apartment buildings
- 14.40 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 16569 Limestone Rd
- Lot size
- 14.40 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity encompasses two mobile home communities, Zehner Reserve and Limestone Reserve, totaling 31 sites situated on 14.4 acres in Athens, Alabama, within the Huntsville MSA. Currently operating at 78% occupancy, the property generates a net operating income (NOI) of $107,000. Significant value-add potential exists through increasing occupancy to match the 95% average of competing parks. The average lot rent is currently below market rates, presenting a clear path to enhanced profitability. Each site benefits from connection to public water and sewer systems, with individual meters for precise usage tracking. The strong demographics of Athens, AL, with a population of 12,000 within a 3-mile radius, 40,000 within 5 miles, and 190,000 within 10 miles, indicate robust demand for affordable housing. The property's APN numbers are 44-08-08-34-0-000-023.000
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Athens
- County
- Limestone
- State
- Alabama
- Longitude
- -87.0725
- Latitude
- 34.7998
