40 Highland Park Ln Alexander City, AL 35089
- Mobile home & RV parks
- 30.00 lot acres
Current Use by Public Records
- Mobile home & RV parks
Property Details for 40 Highland Park Ln
- Year built
- 1980
- Lot size
- 30.00 lot acres
- Property type
- Mobile home & RV parks
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alexander City
- County
- Coosa
- State
- Alabama
- Longitude
- -86.0136
- Latitude
- 32.9112
