For Sale
$3,100,000

460 Pine Valley DrRoanoke, AL 36274

79-Pad Mobile Home Park, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 79-pad mobile home park presents a compelling investment opportunity in Roanoke, Alabama. Situated on 21.5 acres at 460 Pine Valley Dr, Roanoke, AL 36274, this established community boasts a diverse tenant base, generating a strong net operating income (NOI) of $187,677. The park's current configuration includes 7 rent-paying lots, 42 tenant-owned homes under rent-to-own agreements, 3 vacant park-owned homes, and 27 vacant pads, offering significant upside potential through infill development and rent increases. Built in 1976, the park benefits from a cost-effective operational structure, with electricity billed directly to tenants and municipal water and sewer services. Roanoke's affordable housing market, coupled with its proximity to larger cities like Birmingham and Atlanta, ensures consistent demand for affordable housing options. The local economy, driven by manufacturing and agriculture, provides a stable foundation for continued growth. This property offers a blend of immediate cash flow and long-term growth prospects, making it an attractive investment in a thriving market. The property's location in Randolph County, Alabama, provides easy access to regional economic hubs and recreational amenities like Lake Wedowee. The combination of strong existing cash flow, significant development potential, and favorable market conditions makes this mobile home park a truly exceptional investment opportunity.

Highlights

  • 79-pad mobile home park generating $187,677 NOI.
  • Significant upside potential via infill development of 27 vacant pads and rent increases on 42 rent-to-own homes.
  • Attractive location in Roanoke, AL, near Birmingham and Atlanta, offering strong tenant demand in an affordable housing market.
  • Low operating costs due to tenant-paid electricity and municipal water/sewer.

Property Details for 460 Pine Valley Dr

Property type
Mobile home & RV parks
Year Built
1976
Lot Size (sq. ft)
936,540 SF

Location Insight

City
Roanoke
County
Randolph
State
Alabama
Latitude
33.1449378
Longitude
-85.3469087
460 Pine Valley Dr, Roanoke, Alabama

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460 Pine Valley Dr
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