2959 County Road 2214Troy, AL 36079

Property Details for 2959 County Road 2214

Year built

1900

Lot size

12.98 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a well-located 27-pad mobile home park in Troy, Alabama, priced at $760,000 and boasting a 7.59% capitalization rate with a net operating income of $45,984. The property, established in 1900 and situated on 12.98 acres at 2959 County Rd 2214, Troy, AL 36079, offers a mix of tenant-occupied homes, including 13 rent-to-own units, 6 vacant park-owned homes, and 7 vacant pads, providing significant upside potential for increased revenue. Electricity is billed directly to tenants, while the city supplies water, and a septic system handles sewer services. The park benefits from a stable tenant base and manageable operating costs, contributing to its strong financial performance. Troy's robust local economy, fueled by Troy University and a thriving regional workforce, creates consistent demand for affordable housing. The city's strategic location and accessibility further enhance the property's appeal and long-term growth prospects. This mobile home park presents a compelling investment opportunity in a growing market with potential for expansion and increased profitability through filling vacant pads and maximizing occupancy. The rent-to-own structure offers the potential for long-term tenant retention and steady rental income. The low utility expenses contribute to the property's profitability and operational efficiency. The affordable cost of living in Troy, combined with steady housing demand, makes this a strong, stable investment.

Location Insight

City

Troy

County

Pike

State

Alabama

Latitude

31.7789

Longitude

-86.0887

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