4560 Lott, Eight Mile, AL 36613
- $325,000
- List Price
- $325,000
- Status
- ACTIVE
- MLS#
- 7811809
- Lot Size
- 202,989
- Acres
- 4.66
Property Description
This income-producing property offers a significant value-add opportunity with 5 park-owned homes currently generating $4,100 in monthly gross income. The site sits on 4.66 flat, mostly clear acres featuring an asphalt driveway extending to the rear, with power and water lines already in place. There are no zoning restrictions or requirements for this property. To proceed with development, simply submit a site plan directly to the City of Semmes for approval. This property offers significant income-growth potential, with the immediate opportunity to add eight additional pads. Financials: Gross Annual Rent: $49,200 Annual Expenses: $5,710 NOI: $43,500 Cap Rate: ~13.38% This property provides strong cash flow, a high yield, and low overhead. Property viewings are permitted following contract acceptance. All offers must include proof of funds or pre-approval for a commercial property. The water is on a single meter with a $200 monthly cost, which is paid by the park owner. All electricity and other power utilities are separately metered and paid for by the tenants.
Additional Information
- Flooring
- Laminate, Vinyl
- Heating
- Central
- Air Conditioning
- Ceiling Fan(s), Central Air
- Levels
- One
- Elementary School
- Indian Springs
- Middle School
- Semmes
- High School
- Mary G Montgomery
- View
- Trees/Woods
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Listing courtesy of IXL Real Estate LLC.