Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1189536
- Posted On: Feb 10, 2020
- Updated On: Mar 31, 2020
Description
Value Ad Opportunity! 54 unit all age manufactured home park comprising of 3 lot rentals, 42 park owned homes, 7 additional full hook up sites, an office and a storage lot. 34 of the existing homes have been installed in 2006 onwards.
The park provides an investor with an opportunity to obtain a well-manicured and maintained tree shaded community with a strong rent roll and minimal vacancy. The park has additional 7 vacant spaces, ready for new homes providing substantial upside potential. The park is serviced by city water and sewer, but not individually metered.
An investor could immediately add approximately $85,000 annually in income by increasing rent, charging water consumption to the tenants and filling in the 7 new spaces.
INVESTMENT HIGHLIGHTS
- Newer homes
- Value Add Opportunity
- Upside rent potential with current lot rent below market and with the 7 additional full hook up sites.
- With up to $85,000 added yearly income by increasing rent, charging tenants for water consumption and filling in the 7 new sites.
- Ideally located in the center of the state and within 1 hour of TAMPA
Park Information
Number of MH Lots: | 54 |
Total Occupancy: | 84.6 % |
Year Built: | 1961 |
Size: | 2 acre(s) |
Utility Information
Water: | City |
Sewer: | City |