Investment Overview

Marcus & Millichap is pleased to present Bonny Brook Mobile Home Park, a 50-space park located in Jacksonville, Alabama. The park is about a 10-minute drive from both Jacksonville State University and Fort McLellan, and only a 5-minute drive from the nearest Walmart. Bonny Brook Mobile Home Park is being offered at a 7.59 percent capitalization rate, with an estimated net operating income of $94,914. This figure does not include any income from rent-to-own credits for the homes; it is based solely on the income from lot rents. The owner has an additional $69,600 in receivables from rent-to-own credits due this year. The park currently has 45 spaces occupied, with 19 of them being park-owned homes. All 19 park-owned homes are occupied by tenants on a rent-to-own schedule. The lot rent at the park is $250 a month. The park sits on a total of 20.22 acres, the new owner could develop approximately 50 additional spaces. The park runs on city water and a septic system. Electricity is directly billed to the tenants while water, sewer, and trash are included in rent. The park has Metron meters that are not currently utilized; a new owner could use the meters to recapture the cost of water. Management lives on site and is compensated with free lot rent and $500 a month. Please do not visit the park without prior approval. Please arrange all property tours with Marcus & Millichap listing agents.