North Alabama 3-Park Portfolio
202 Leisure Acres Ct, Boaz, AL 35957
220 Anderson St, East Scottsboro, AL 35769
840 West Willow St, Scottsboro, AL 35768
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Investment summary
Total Lots226
Number of Parks3
Tenant Owned107
Rent-to-Own38
Other (1 Apt | 1 SF House) 2
Storage5
Office1
Vacant Lots51
Vacant POH12
Vacant RV3
Vacant Storage7
Executive summary
BWE Investment Sales LLC (BWE) is pleased to offer the exclusive opportunity to acquire Scottsboro 3-Park Portfolio, consisting of Leisure Acres Reserve (112 lots), Lakeland Reserve (50 lots | 12 Storage Units), and West Willow Reserve (52 lots). Lakeland Reserve and West Willow Reserve are located just 6-miles apart and providing a new buyer immediate operational efficiencies and economies of scale in strong southeastern markets. Leisure Ares is located just a short drive away and situated near two major high schools and a variety of shopping and entertainment.
The average lot rent for this 3-park portfolio is $414. Both communities have public electric that is directly billed to the tenants. There are 51 vacant lots across the portfolio, providing an immediate value-add opportunity through infill. Geographically, the proximity of all three properties from neighboring metro areas including Huntsville, Birmingham, and Chattanooga provide convenient access to retail, parks, and a plethora of employment opportunities.
Bang Realty-Alabama Inc | License No. 119315
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Investment highlights
Convenient location
West Willow Reserve, Lakeland Reserve, and Leisure Acres Reserve are located in the northern region of the state. They are approximately one hour from Huntsville, AL, and Chattanooga, TN, and just over an hour from Birmingham, AL—the state’s largest city—offering ample amenities, shopping, and entertainment.
Value add opportunity
There is value add opportunity for investors through rent increases, rehabbing and filling vacant park owned homes, and filling the vacant lots. Currently this portfolio has 51 vacant MH lots, 3 vacant RV lots and 12 vacant POH.
Public utilities
All three communities are serviced by public water and billed back to tenants. At Leisure Acres, the trash is billed back to tenants. West Willow Reserve and Lakeland Reserve both offer trash service that is included in tenant rent.
Rent increase opportunity
Real opportunity to raise rents by 12%+ in the first two years. By infilling vacant lots and rehabbing vacant homes, an investor can increase the average lot rent by setting the new tenants at market rent.
Exclusively listed by
Parker Kelly
VP, Manufactured Housing, Investment Sales
Tanner Westerheid
VP, Manufactured Housing, Investment Sales
Matt Skinner
VP, Manufactured Housing, Investment Sales
Nick Ferando
VP, Manufactured Housing, Investment Sales