Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.3%
  • Listing ID: 1130097
  • Posted On: Sep 5, 2019
  • Updated On: Dec 4, 2020

Description

9MH and 71 RV Sites -- 80 Total

Two bedroom / two bath owner's home with attached office. Public boat ramp access less than 1 mile away. Cable TV on every lot. Property is near a regional enclosed shopping mall, dining, medical care, trophy bass fishing, premier golf courses, and a world-wide yearly sport tourism attraction.

Electric is metered 30 amp or 50 amp for transient and permanent sites. Gross income equals current occupancy as of December 2020 and 2019/2020 actual occupancy for transient sites. BROKER'S OPINION: By filling 19 RV Sites with park models at market rates of $375 per month, gross income will be over $310,000 which will increase the net income over $245,000

Location

South Central Florida

Amenities

  • Laundromat
  • Storage
  • Club House
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Park Information

Community Type: 55 And Over
Number of MH Lots: 9
Average MH Lot Rent: $300
Size: 7 acre(s)

Financial Information (Actual)

Gross Income: $256,407
Operating Expense: $58,139
Net Operating Income: $198,268
Expense Ratio: 22.7 %

RV Information

Number of RV Lots: 71
Average RV Lot Rent: $395

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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