Investment Overview

Marcus & Millichap is pleased to present this 78-space Mobile Home Park Portfolio in Theodore, AL. These two parks are located just 20 minutes from downtown Mobile and only 10 minutes apart from each other. Azalea Grove Mobile Home Park is less than a mile from the nearest Walmart. Azalea Grove Mobile Home Park features 50 lots with an occupancy rate of 74% and a monthly lot rent of $450. Of the 37 current tenants, 24 reside in Park-Owned Homes, all of which are on rent-to-own schedules. This arrangement allows the owner to pass maintenance responsibilities for the homes on to the tenant. The park operates on city water and a private septic system. This park has been pre-approved for connection to city sewer. Electric is directly billed to the tenant, while water, sewer, and trash expenses are billed back to the tenant. Bellingrath Oaks Mobile Home Park features 28 lots with an 82% occupancy rate and a monthly lot rent of $450. The park currently has 23 tenants, 18 of those live in Park-Owned Homes on rent-to-own schedules which passes maintenance responsibility on to the tenant. This park operates on city water and sewer with electric being directly billed to the tenant. Water, sewer, and trash expenses are all billed back to the tenant. Management is unaware of the property sale. Please do not visit the parks without prior approval. Please arrange property tours with Marcus & Millichap Listing Agents