Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.0%
- Listing ID: 1080686
- Posted On: May 12, 2019
- Updated On: Jul 18, 2019
Description
Located near Lake Weir the park just south of Belleview and north of The Villages. Sterlingwood is an all age predominantly rental home community providing an affordable housing option to many who to take advantage of the employment opportunities offered by The Villages. The park boasts a quiet neighborhood location and a low turnover ratio. The park's utilities include city water and septic tanks. Current occupancy (5-2019) is 96%.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 45 |
Total Occupancy: | 96.0 % |
Year Built: | 1948 |
Average MH Lot Rent: | $604 |
Size: | 9 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $313,680 |
Operating Expense: | $100,583 |
Net Operating Income: | $213,097 |
Expense Ratio: | 32.1 % |
Debt Info: | 70% LTV, 6.25%, 20 yr amort, 5 yr call |
Lot Information
Singlewide Lots: | 45 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 40 |
Average Rent for Park-owned Homes: | $647 |