This income-producing property offers a significant value-add opportunity with 5 park-owned homes currently generating $4,100 in monthly gross income. The site sits on 4.66 flat, mostly clear acres featuring an asphalt driveway extending to the rear, with power and water lines already in place. There are no zoning restrictions or requirements for this property. To proceed with development, simply submit a site plan directly to the City of Semmes for approval. This property offers significant income-growth potential, with the immediate opportunity to add eight additional pads.
Financials:
Gross Annual Rent: $49,200
Annual Expenses: $5,710
NOI: $43,500
Cap Rate: ~13.38%
This property provides strong cash flow, a high yield, and low overhead. Property viewings are permitted following contract acceptance. All offers must include proof of funds or pre-approval for a commercial property.
The water is on a single meter with a $200 monthly cost, which is paid by the park owner. All electricity and other power utilities are separately metered and paid for by the tenants.
Property Features
Cooling Information
Ceiling Fan(s)
Central Air
Utilities
Electricity Available
Water Available
Heating Information
Central
Water Features
Public
Parking
Varies by Unit
School Information
School Information for 4560 Lott W Road, Eight Mile, AL 36613
Elementary School
Indian Springs
Middle School
Semmes
High School
Mary G Montgomery
Listing Courtesy: IXL Real Estate LLC - 251-265-1230