Investment Overview

We are pleased to present Alexis Place MHP, a stabilized, turn-key cash flowing investment with 103 units on 16 acres. This community is centrally located in the fast-growing Mobile AL MSA providing residents with a great place to live, raise a family and also find employment. It also has proximity to Pensacola, FL and Pascagoula, MS. The Mobile AL MSA has over 430K+ people living there, providing a well-trained and productive work force that enhances the areas diverse employment base. There are 103 total lots with 86 rented park owned homes (POH), 16 tenant owned homes (TOH), 0 vacant POH and 1 vacant lot. 28 of the park owned homes are brand new 2022, 14 X 66 models. The POH’s are rented for an average of $778 a month, well below market rates. The overall market may be able to support higher rents based on population growth, limited affordable housing supply and growing demand in this market. Alexis Place MHP is serviced by public utilities that are paid directly by the tenants. Trash is provided by dumpsters, paid by the landlord and included in the rent. All utility systems are in good working order. The roads are paved and in good condition. The park is not affected by a flood zone and is not in an opportunity zone. With 98% occupancy, public utilities, and a stable but growing market with strong demand for affordable housing, this investment presents a great opportunity to create more scale or enter into the southern Mobile AL market. We are asking investors to submit their best offers, as no pricing guidance will be given. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience. Location Information: According to the most recent census data, Mobile AL county has a population of 414K+ people, with a median household income of $51K+ annually, and a median home price of $169K. The median home value in the parks zip code (36618) is $227K. Mobile County is located on the Gulf Coast of Alabama and is home to the state’s only seaport. It is known for its various industries including shipbuilding, steel milling, and lumber production. It also contains several parks and recreational areas, as well as 15 miles of white sandy beaches along the coast. Geographically, Mobile benefits from its location by the Gulf of Mexico and the Mobile Bay, offering residents beautiful beaches and opportunities for water activities like boating and fishing. The economy of Mobile is diverse, driven by industries such as aerospace, shipbuilding, manufacturing, healthcare, and tourism. The Port of Mobile, one of the largest ports in the U.S., plays a significant role in the local economy, supporting international trade. Major employers include Airbus, Austal USA, and the University of South Alabama, providing a range of job opportunities. Life in Mobile offers a blend of Southern charm, coastal affordable living, and cultural diversity.