For Sale
$449,000

208 Trojan WayTroy, AL 36081

14-Unit Alabama Mobile Home Park, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 14-unit mobile home park in Troy, Alabama, presents a compelling investment opportunity. Situated on a 3.46-acre lot at 208 Trojan Way, this property boasts 100% occupancy, generating a current Net Operating Income (NOI) of $23,100 and a 5.14% cap rate. All 14 units are single-family homes ranging from one to three bedrooms and one bathroom. The park features tenant-owned homes, significantly reducing maintenance responsibilities. City-maintained streets, city water, and sewer services (direct-billed to residents) further minimize operational overhead. Residents are responsible for maintaining their own properties. The convenient Troy location offers proximity to shopping and a local distillery. The current lot rents are below market levels, presenting a significant opportunity for increased revenue and a pro forma cap rate exceeding 12% with near-market rent adjustments. This low-maintenance property offers a strong return on investment with potential for substantial future growth. The property is located in zip code 36081.

Highlights

  • $449,000 asking price for a 14-unit mobile home park in Troy, Alabama.
  • 5.14% cap rate with a $23,100 NOI.
  • 100% occupancy.
  • 3.46-acre lot.
  • 13 tenant-owned homes (TOH) and one vacant lot.
  • Single-family homes ranging from 1 to 3 bedrooms, 1 bathroom.

Property Details for 208 Trojan Way

Property type
Mobile home & RV parks
Lot Size (sq. ft)
150,718 SF
Units
14

Location Insight

City
Troy
County
Pike
State
Alabama
Latitude
31.8222354
Longitude
-85.9736802
208 Trojan Way, Troy, Alabama

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208 Trojan Way
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