About 10035 County Road 83
Income-producing mobile home park investment opportunity in Elberta, Alabama! Located at 10035 County Road 83, this property features 12 existing lots with 11 older mobile homes currently in place. Most homes are 2-bedroom, 1-bath units, with one 2-bedroom, 2-bath home and one 3-bedroom, 2-bath home. Parcel is zoned R-3 and is over 3.5 acres.
The property is currently generating nearly $10,000 per month in gross rental income, with significant upside potential. With improvements, renovations, and active management, the property has the potential to generate approximately $13,000 per month in gross revenue.
One additional home located on the 12th lot requires major renovation, presenting another value-add opportunity. The parcel also offers potential room to develop up to two additional lots, subject to buyer verification, zoning, permitting, utility availability, and any required approvals.
Operating costs are currently low. A well provides water to all units, with an approximate $125 per month electric cost to operate the well. The homes are served by septic tanks, and a trash dumpster is provided for tenants at an approximate cost of $300 per month. Current property taxes and annual mobile home tag renewals are also low. No insurance is currently carried on the mobile homes.
Conveniently located in the growing Elberta/Foley area and within easy reach of Baldwin County's beaches, shopping, dining, and employment centers, this property offers an excellent opportunity for an investor seeking immediate cash flow with substantial upside potential. The older mobile homes provide opportunities for renovation, improved management, and increased rental income. Please do not access property without an appt.
Buyer to verify all information deemed important during due diligence, including income, expenses, occupancy, lot capacity, zoning, utilities, septic systems, property taxes, tag costs, insurance requirements, condition of improvements, and development potential. Buyer to verify all information during due diligence.
