For Auction
Zehner & Limestone – Mobile Home Communities | Huntsville AL MSA
Athens, AL 35611Represented by
Friedman Real Estate
Asset Snapshot
Offering Summary
Investment Highlights
- Two mobile home parks with a total of 31 sites located in Athens, AL, within the Huntsville, AL MSA.
- Zehner: 8.5 Acres | Limestone: 5.9 Acres
- Significant Value-Add Potential with opportunities to fill vacant sites.
- Blended T-12 NOI is $107,000 at ±78% occupancy.
- Average lot rent is lower than that of competing parks in the area, which have an average occupancy rate of 95%.
- The community is connected to public water and sewer systems, with meters installed to track residents’ usage.
- Athens, AL, is an ideal market for mobile home park investment, with a current population of 12,000 within a 3-mile radius, 40,000 within 5 miles, and 190,000 within 10 miles. The area’s favorable demographics and steady growth signal strong demand for affordable housing in northern Alabama.
Property Overview
Friedman Real Estate, in conjunction with RI Marketplace, is excited to present the exclusive marketing and sale of Zehner Reserve and Limestone Reserve, two mobile home communities comprising 31 sites located in Athens, AL, within the thriving Huntsville, AL MSA. These communities are currently around 78% occupied, generating a blended T-12 Net Operating Income (NOI) of approximately $107,000. Offering substantial value-add potential, these properties present an opportunity for new ownership to fill vacant sites, increase occupancy, and align lot rents with local market rates, where competing parks average 95% occupancy.Situated in the steadily growing Athens, AL area, the communities benefit from a favorable market for affordable housing, with a population of approximately 12,000 within a 3-mile radius, 40,000 within 5 miles, and 190,000 within 10 miles. The community is connected to public water and sewer systems, with individual meters for resident usage, facilitating efficient utility management. Athens provides residents with convenient access to northern Alabama's cultural and recreational amenities, making it an appealing investment environment with potential for growth in the mobile home park sector.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
