mobile home park - Posted by donna turner
Posted by donna turner on April 28, 2006 at 10:58:16:
I am the owner of a mobile home park in Northport, Alabama(10 minutes from University of Alabama campus.)
House, suitable for owner to live in and operate park, or rent,(cottage style approx. 1500+/- sq. ft., double carport adjoinging house with breezeway and office/shop. 17 lots spread over 8+ acres of slightly wooded, rolling land with
commercial potential in the future. Roads are newly paved asphalt,road frontage on hwy 171 N.) Lots rent for average $160.00 month. own seven homes (one '79 model and rest 90’s and 2000.) nice set up, excellent condition and choice tenants, great rental history. I am planning to put it own the market for $575,000
for sale by owner. annual gross income approx. $56,000, expenses approx. $7500 yr.(the income should increase this year, due to rising rent and other posssibilites to earn(rv spot, double carport separate could be used/charged for storage). I have some real estate experience, I would work on contract with buyer but would have a title company to close for me, but am wondering if it would be better to list with real estate agent . Of course this would take my price considererably higher and I am a motivated seller. What are the benefits to using an agent in my case?
Would appreciate any advice.