Cabins of Lay Lake

Multi-Family for Sale
Catylist Listing ID: 30794307
Number of Units: 6 Units
Building Size (RSF): 4,290 SF
Gross Land Area: 546,242 SF
Sale Price: $1,100,000
Unit Price: $183,333.33 Per Unit
Property Use Type: Investment
Building Name: Cabins of Lay Lake
Usable Size (USF): 4,290 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/11/2022

Overview / Comments

5 Cabins rented on a Short Term (nightly) Rental basis. There is room and approval to add at least 7 more cabins.

The property was developed in 2020 with Five 2 BR/1 Bath fully furnished cabins and One 1 BR Maintenance shop (currently occupied but not rented) with 750 sf of living space and 420 sf of shop space.

This property caters to vacationers coming to relax in a quiet wooded area less than one mile from the Beeswax entrance to Lay Lake, Fishing Tournament patrons, Wedding parties, and many other groups of vacationers.

Additional Details

Nearest MSA: Birmingham-Hoover
County: Shelby
Tax ID/APN: 20 8 27 0 000 010.000
Percent Occupied: 100%
Property Located Between: US 280 and I 65
Highway Access: I-65
Site Description: 12.5 acres of beautiful land less than a mile from the Beeswax entrance to Lay Lake. Quite, remote area with stocked pond and picnic area.
Area Description: Located less than a mile from Lay Lake. Lay Lake is a 12,000-acre reservoir located thirty-five minutes south of Birmingham off I-65 and fifteen miles south of Columbiana in east-central Alabama. Lay Lake has a shoreline about 289 miles long. It is a recreational lake with fishing opportunities for largemouth bass, spotted bass, bluegill and other sunfish, crappie, catfish, striped bass, hybrid and white bass. Lay Lake has hosted the Bassmaster Classic four times.
Total Number of Buildings: 6
Property Condition: Excellent
Year Built: 2020
Heat Type: Electricity, Hot Water
Heat Source: Central
Fuel: Electric
Interior Description: Each of the 5 cabins have 2 Bedrooms and 1 Bathroom. They all come fully furnished with each bedroom having two twin XL beds. The kitchens come stocked with dishes and other cooking utensils.
Water Service: Municipal
Sewer Type: Septic

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,053 8,566
Median Age: 42.52 42.13
Households: 1,189 3,338

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