$625,000
$699,900
10.7%For more information regarding the value of a property, please contact us for a free consultation.
5.32 Acres Lot
SOLD DATE : 08/25/2023
Key Details
Sold Price $625,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Subdivision Metes And Bounds
MLS Listing ID 1831501
Sold Date 08/25/23
HOA Y/N No
Lot Size 5.320 Acres
Acres 5.32
Property Sub-Type Multi Family
Source Valley MLS
Property Description
Excellent income producing investor property on 5.32 +/- acres! This 10 space mobile home park is just minutes from the Toyota plant in Sparkman school district. Features 9 park owned mobile homes, 1 lot lease and 2-3+ additional vacant (underdeveloped) spots for potential additional income. The property currently has a yearly income of $67,500 with a great upside by increasing rents. The tenants pay their own water and electricity. All tenants are on a month-to-month lease and all rents are well below market value. This property consists of 2 parcels include 137 Morris and 157 Morris. Some units are as new as 2019 models.
Location
State AL
County Madison
Direction From Holmes Ave. Take Pulaski Pike 14.7 Miles, Rt On Morris Rd. 1 Mile, Lt On Opp Reynolds Rd. Then Immediately Rt To Stay On Morris Rd For .8 Mile, Rt On Morris Ln, Mobile Home Park On Lt.
Interior
Fireplace No
Exterior
Total Parking Spaces 10
Building
Sewer Septic Tank
Water Public
New Construction No
Schools
Elementary Schools Madison Cross Roads
Middle Schools Sparkman
High Schools Sparkman
Others
Tax ID 0507250001030.000
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Copyright
Based on information from North Alabama MLS.
Bought with Re/Max Legacy
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Partner | Lic# 000074717