460 Pine Valley DrRoanoke, AL 36274

Property Details for 460 Pine Valley Dr

Year built

1976

Lot size

21.50 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Roanoke

County

Randolph

State

Alabama

Latitude

33.1449

Longitude

-85.3469

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