820 4th ave SW Ave - Manufactured Housing/Mobile Housing FOR SALE


Red Bay, AL 35582
$705,000 USD
423-544-0002
820 4th ave SW Ave, Red Bay, AL for Sale
$705,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/6
null | 14.18% Cap Rate

820 4th ave SW Ave
Red Bay, AL 35582


OVERVIEW

This is a 34 lot rv park. One park is 24 lots (2 acres) and the other park is 10 lots (1 acre approximately) located at 717 4th St West, Red Bay. They are only a few minutes from each other. Room to add more 5-10 more sites possible and opportunity to buy more land next door. City sewer and city water at both parks. 6 inch sewer lines and all electric wiring is a size bigger than required. Room to increase the lot rent. The park was built by the owner and he self manages it with no employees. The park is set up to be self service and by adding some technology to the system could be even more efficient. Adding a few amenities to the park could increase the cash flow some as well. There is a park that is close by that charges $80 a night and he only charges $20 a night so there is room to increase the income there as well. Owner would consider selling just the larger park for 600k. (From owner) Both parks are first come first serve. They go by the honor system. Both parks are ran the same way, one is not an overflow. Rates are $25 a night or $140 a week, currently do not do long-term, but we do have people that come through and stay with us for maybe two months or more at a time while they are having work done to their motorhomes, or we have had people come through that are working on the highways or local jobs that would stay for several months, but we do not do monthly rates, it is still weekly rates. We do not let people set up long-term and live there. We do not do reservations but we tell people if they will call us a day ahead of time that we will try to save them a site and we have a lot of regular customers that have stayed with us for years and some of them will call us a day ahead of time but pretty much it's first come first serve with drop boxes at both parks. We have envelopes at both parks that pretty much explain to the customer what the rules are. We try to make it as easy as possible because when we first started the parks I worked off and my wife worked so we didn't have time to do reservations, but this has worked well for us and our customers. When a customer gets a site, we let them keep it as long as they need it because it usually takes longer than they think to get their work done so we do not make people leave and people are just in an out all the time. We do cash or checks. We do not do credit cards or payment over the internet or phone. We just never set this up. They don't mind doing cash or check. We have not went up on our prices for several years because we make a very good profit at the price that it is,but if you wanted to go up you could because I think we're the lowest price in the area. The City of Red Bay is one of the most industrious communities per capita in the state of Alabama and features a variety of industry types. With a Large Tifton Motorhomes Plant and service center in town this brings a lot of business to the park. City also has Sunshine Mills and the Gates Corporation.

FOR SALE DETAILS

PRICE

$705,000 USD

PRICE/SF

$705 USD /SF

# OF UNITS

34

PRICE/UNIT

$20,735

CAP RATE

14.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Bay Rv Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

-

APN/PARCEL ID

07-04-19-0-000-173.004-0

ASK ABOUT THIS PROPERTY

Stewart PhillipsKeller Williams RealtyMore Info
423-544-0002

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Stewart PhillipsKeller Williams RealtyMore Info
423-544-0002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.