Multifamily Property for Sale in Daleville, AL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Daleville, AL 36322
  • Year built: 1980

Description

Marcus & Millichap is pleased to present Red Oak MHP, located in Daleville, AL (Dothan MSA, a cash-flowing, value-add investment consisting of 80 total sites with immediate upside through infill, rent growth, and operational improvements. Located just minutes from Fort Novosel (formerly Fort Rucker, Daleville serves as a key workforce housing hub within the Wiregrass region of Southeast Alabama. The area benefits from stable employment driven by military, aviation training, healthcare, and regional service industries. Proximity to Enterprise and Dothan locales provides access to retail, healthcare, and regional employment centers, while Fort Novosel continues to support consistent housing demand from military personnel, contractors, and support staff. This offering consists of 80 total sites, including 28 tenant-owned homes (TOH, 8 rented park-owned homes (POH, and 9 rent-to-own units (RTO, 10 vacant MH lots, 14 vacant RV lots, and 8 vacant POH units. Additionally, the RV portion of the park is newly built with 15 RV lots presenting a strong infill and stabilization opportunity. The average MH lot rent is approximately $392, with projected market lot rents around $475/month, providing natural room for rent growth. The presence of POH and RTO units offers additional income streams and the opportunity to transition toward a more stabilized TOH focused community over time. Red Oak is serviced by public water and private septic, with water partially recaptured on the MH Lots and included on the RV lots. Utilities on MH lots are largely tenant-paid via direct billing where applicable. Roads are privately maintained and in functional condition but could benefit from light improvements to enhance curb appeal. The community is located in a stable residential area and is not in a Flood Zone or an Opportunity Zone. Red Oak MHP is being offered at a purchase price of $2,000,000, reflecting an estimated 8.1% cap rate on in-place operations. Investors may achieve meaningful upsi

Market Context

This multifamily in Daleville, AL is listed for sale. It is offered at an approximate 7.7% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1980. It has been on the market for 54 days. Compare it against other multifamily listings for sale in Daleville, AL — <a href="/search/sale/multifamily/alabama/daleville">view the full market</a>.

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