100 Lunsford Circle, Opp, AL 36467 - Covington County

Opp Estates MHC is a mobile home park situated on 14.00 acres, with a 40-year operating history. It is currently zoned as a Mobile Home Park (MHP) and is not located in a flood zone. The park has been under the ownership of the current sellers for the past three years, during which time they have made significant infrastructure improvements, including $15,000 invested in new plumbing at the back of the park.

The park contains a total of 67 pads, with 42 currently occupied. Of these, 52 are park-owned homes (POH), including 8 vacant units. Among the POH inventory, five are double-wide trailers. The owners have confirmed that none of the vacant trailers require removal from the property, and all vacant pads are capable of accommodating trailers. In addition, there are two tenant-owned homes (TOH), with the pad rental rate remaining unchanged for an extended period. The park does not have any trailers held for back taxes.

Rental rates for the POH units average $550 per month for two bedroom homes and $600 for three-bedroom homes. The current owners have not raised rents during their three years of ownership but have worked to secure market rents for all new rentals. They maintain clear titles to all of the POH units. The park operates on annual leases, with four tenants currently behind on rent. Rent payments are accepted via CashApp, Venmo, and direct deposit at Southern Independent Bank.

Regarding future plans, the sellers indicated that their focus would be on renovating the empty units and renting them at market rates. They are currently in the process of renting two additional units, expecting to have 46 units occupied by the end of March.

The park benefits from city water and city sewer services, with tenants being direct-billed for both utilities. Tenants are also responsible for their own garbage and electric services, with no gas meters present on the property. The electrical pedestals are a mix of 100 and 200 amp.

Infrastructure at the park includes paved roads, which are reported to be in good condition. The underground pipes are mostly PVC with some cast iron. Off-street parking is available for tenants. Tenants are required to mow their own pads, while the park management oversees mowing of the common areas and vacant sites. An onsite manager and maintenance personnel provide operational support.

Opp Estates is available for purchase by either an all-cash or a bank financed offer. The existing mortgage is not assumable, and the owners are not offering seller financing as part of this sale.

This offering represents a compelling opportunity to acquire a mobile home park with stable infrastructure, operational city utilities, and room for rent growth and increased occupancy.

MR. LANDMAN, LLC is a licensed entity in the State of Alabama under AL LIC#000135326 - 0. Jonathan Fisher is a licensed Alabama Qualifying Broker under AL LIC#000134713 0.