Mobile Home Park
Roanoke MHP
460 Pine Valley Dr, Roanoke, AL 36274
Listing Price: $3,100,000
Investment Overview
Marcus & Millichap is pleased to present Roanoke MHP, a well-established manufactured home park located in Roanoke, Alabama. This property consists of 79 total pads, 7 lot rent, 42 tenant owned homes via rent-to own, 3 vacant park owned homes, and 27 vacant pads. The park benefits from a direct-billing arrangement for electricity, while water and sewer services are provided by the city. Roanoke MHP offers a compelling
investment opportunity, with a strong existing cash flow and significant upside potential through infill and rent growth.
Roanoke is a small city situated in the eastern part of Alabama, in the foothills of the Appalachian Mountains. Known for its affordable housing market, low cost of living, and proximity to larger regional economic hubs such as Birmingham and Atlanta, Roanoke is experiencing steady demand for affordable housing options. The area has a stable local economy, with industries like manufacturing and agriculture driving job growth, and the nearby Lake Wedowee attracting both residents and tourists. As housing affordability continues to be a critical issue across the U.S., Roanoke’s manufactured home market remains well-positioned for growth.
Roanoke MHP
Investment Highlights
- Diverse Tenant Base with Stable Cash Flow: The park generates predictable cash flow from the existing RTO homes and offers potential for increased revenue
- Strong Rent Growth and Expansion Potential: With the demand for affordable housing on the rise, the vacant pads can be quickly developed to enhance occupancy and rental income.
- Attractive Location and Market Fundamentals: Roanoke's affordability, combined with its close proximity to regional economic centers, makes it an appealing location for both tenants and investors.
- Low Operating Costs and Operational Efficiency: With electricity billed directly to tenants and water/sewer services provided by the city, the property enjoys low utility costs and streamlined operations.
Broker of Record
Listing Price: $3,100,000
Investment Highlights
- Diverse Tenant Base with Stable Cash Flow: The park generates predictable cash flow from the existing RTO homes and offers potential for increased revenue
- Strong Rent Growth and Expansion Potential: With the demand for affordable housing on the rise, the vacant pads can be quickly developed to enhance occupancy and rental income.
- Attractive Location and Market Fundamentals: Roanoke's affordability, combined with its close proximity to regional economic centers, makes it an appealing location for both tenants and investors.
- Low Operating Costs and Operational Efficiency: With electricity billed directly to tenants and water/sewer services provided by the city, the property enjoys low utility costs and streamlined operations.
Investment Overview
Marcus & Millichap is pleased to present Roanoke MHP, a well-established manufactured home park located in Roanoke, Alabama. This property consists of 79 total pads, 7 lot rent, 42 tenant owned homes via rent-to own, 3 vacant park owned homes, and 27 vacant pads. The park benefits from a direct-billing arrangement for electricity, while water and sewer services are provided by the city. Roanoke MHP offers a compelling investment opportunity, with a strong existing cash flow and significant upside potential through infill and rent growth. Roanoke is a small city situated in the eastern part of Alabama, in the foothills of the Appalachian Mountains. Known for its affordable housing market, low cost of living, and proximity to larger regional economic hubs such as Birmingham and Atlanta, Roanoke is experiencing steady demand for affordable housing options. The area has a stable local economy, with industries like manufacturing and agriculture driving job growth, and the nearby Lake Wedowee attracting both residents and tourists. As housing affordability continues to be a critical issue across the U.S., Roanoke’s manufactured home market remains well-positioned for growth.
Broker of Record
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Eddie Greenhalgh
Senior Vice President Investments
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