Hidden Acres MHP — Sale in Selma, AL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Selma, AL 36701

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Investment Figures

Cap rate
2.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Hidden Acres MHP, a 200-lot manufactured housing community located at 4915 US Highway 80 in Selma, Alabama, the seat of Dallas County. The community is currently 14% occupied with 155 vacant mobile home lots available for infill. Hidden Acres is offered as a basis play at $14,500 per lot — the buyer acquires a fully platted, publicly served community with the value creation ahead of it rather than embedded in the current rent roll. Hidden Acres features 200 capitalized lots, zoned and approved for MH or RVs, providing flexible site utilization. The community includes 13 tenant-owned homes (TOH), 15 rented park-owned homes (POH), 17 vacant POH and 155 vacant lots. The average lot rent is $269 per month across all occupied units, with actual TOH lot rent averaging $246 and POH rent averaging $772. There are no RTO contracts. Two of the 32 park-owned homes were built in 2023; the remaining 30 have an average year built of 1995. The community operates on public water and public sewer with an on-site sewer pump. Curbside trash is in place. Utility billback has only just been implemented — currently on 3 tenants for water and 9 for trash. A full billback rollout is an immediate and controllable NOI swing independent of any lease-up. The park is not reported in a flood zone. Selma anchors the Selma, AL micropolitan area approximately 44 miles west of Montgomery on the US-80 corridor. The market’s dominant employer is International Paper’s Riverdale Mill, the largest employer in Dallas County at roughly 800 employees. Selma’s median household income of $33,197 and a 54% renter share define a market where the manufactured housing lot is the lowest-cost detached housing option available. Hidden Acres MHP is being offered at a purchase price of $2,900,000. Investors may achieve meaningful upside by infilling vacant sites, stabilizing POH occupancy, gradually increasing rents toward market levels, and improving utility expense recapture.

Market Context

This multifamily in Selma, AL is listed for sale. It is offered at an approximate 2.5% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Selma, AL — view the full market.

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