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3203 Water Ave
Selma, AL 36703
Asking Price
$385K
Cap Rate
3.3%
Asset Type
Mobile-home-park
Class
Class B
What's Special
52 Unit Mobile Home Park with infill opportunity w/ seller financing <ul><li>Seller Financing Offered: $185k down payment, 6% interest rate, I/O, 5 yr balloon </li><li>$7,404 Price per site opportunity - well below replacement costs</li><li> 39 vacant lots with infrastructure to be filled </li><li>5 vacant park owned homes that can be rehabbed and filled or sold off </li><li>Current park owned home tenants handle their own home maintenance </li><li>City utilities included in the rents. Opportunity to sub-meter lots to bill back usage</li></ul>
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NOI
$80,000
Cap Rate
20.78%
DSCR
3.50
Strong
Cash-on-Cash
49.47%
Monthly Payment
$1,904.77
Annual Cash Flow
$57,142.761
