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.
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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 |
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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