863 Lee Road 234, Phenix City, AL 36870
Local realty services provided by:Reliant Realty ERA Powered
863 Lee Road 234,Phenix City, AL 36870
$2,150,000
- - Beds
- - Baths
- 25,000 sq. ft.
- Multi-family
- Active
Listed by: drew lekowski, tony puglisi
Office: mrg realty partners
MLS#:3261932
Source:NASHVILLE
Price summary
- Price:$2,150,000
- Price per sq. ft.:$86
About this home
https://pineviewmobilehomeparks.sharplaunch.com/
MRG is pleased to present the Pineview MHP Portfolio, a 52-pad manufactured housing portfolio spanning five properties across Phenix City, Alabama, and Ellaville, Georgia. This portfolio offers a compelling combination of immediate in-place cash flow and significant value-add potential through the lease-up of vacant pads and the opportunity to increase below-market rents over time as units turn. Recent capital improvements have reduced near-term deferred maintenance needs, allowing a new owner to focus on operational execution and revenue growth. Spanning two states, the portfolio provides geographic diversification while offering an attractive basis for a multi-property acquisition with both stable income and meaningful upside.
Value-add lease-up opportunity — approximately 10 of 52 pads are currently vacant or under-utilized, offering meaningful upside as they're brought online
Wide rent spread across occupied units ($350–$1,150/month) signals room to push below-market rents up to comps at turnover or renewal
Attractive basis at roughly $41,300 per pad and ~7x gross rental income — a low entry point for a 52-pad, 5-property portfolio
Trash expenses are now being billed back to the tenant.
Recent capital investment in septic systems, roofing, plumbing, road work, and unit renovations reduces near-term deferred maintenance risk
Two-state, two-submarket footprint (Phenix City, AL and Ellaville, GA) spreads geographic and regulatory risk beyond just tenant-level diversification
call drew lekowski for details 615-522-3973...
Contact an agent
Home facts
- Year built:2001
- Subdivision & Development:None
- Listing ID #:3261932
- Added:48 day(s) ago
- Updated:August 24, 2026 at 02:34 PM
Rooms and interior
- Living area:25,000 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central
- Central air:Yes
Structure and exterior
- Year built:2001
- Building area:25,000 sq. ft.
- Construction Materials:Vinyl Siding
- Levels:1 Story
Schools
- High school:Auburn High School
- Middle school:Auburn Junior High School
- Elementary school:Auburn Early Education Center
Utilities
- Water:Well
- Sewer:Septic Tank
Finances and disclosures
- Price:$2,150,000
- Price per sq. ft.:$86
- Tax amount:$9,010
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