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863 Lee Road 234
Phenix City, AL 36870
Pineview MHP Portfolio · Multifamily Property For Sale
Investment Highlights
- Value-add lease-up opportunity — approximately 10 of 52 pads are currently vacant or under-utilized offering meaningful upside as they're brought onl
- Attractive basis at roughly $41,300 per pad and ~7x gross rental income — a low entry point for a 52-pad, 5-property portfolio
- Two-state, two-submarket footprint (Phenix City, AL and Ellaville, GA) spreads geographic and regulatory risk beyond just tenant-level diversification
- Wide rent spread across occupied units ($350–$1,150/month) signals room to push below-market rents up to comps at turnover or renewal
- Recent capital investment in septic systems, roofing, plumbing, road work, and unit renovations reduces near-term deferred maintenance risk
- Trash expenses are now being billed back to the tenant.
Executive Summary
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.
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.
Property Facts
| Price / SF | $258.81 CAD / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 11,815 SF |
| Status | Active | Total Land Area | 82.71 AC |
| Number of Properties | 4 |
| Price / SF | $258.81 CAD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 11,815 SF |
| Total Land Area | 82.71 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 10 Grace Rd, Phenix City, AL 36870 | Multifamily | 10,000 SF | 1999 | - |
| 863 Lee Road 234, Phenix City, AL 36870 | Multifamily | - | 1970 | - |
| 355 Pine Cir, Ellaville, GA 31806 | Multifamily | 1,815 SF | 1999 | - |
| 120 Pine Circle Cir, Ellaville, GA 31806 | Multifamily | - | 1999 | - |
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