Mobile Home Park Details

  • Cap Rate: 6.4%
  • Listing ID: 1300804
  • Posted On: Aug 4, 2020
  • Updated On: Aug 6, 2020

Description

100Units.com presents Spring Lake Estates which is a 37 unit community, situated on 6.30 acres and built in 1965. This community consists of 30 mobile home sites (tenant owned mobile homes), 4 one bedroom one bath apartment units, 1 one
bedroom one bath single family house, 1 rental park owned mobile home, 1 clubhouse rental unit. The residents enjoy a community clubhouse, lake, and the location is in close proximity to shopping, jobs, and multiple highways. The community has a well water and septic tanks for the utilities (3rd party professionally operated). Value add opportunity by metering the electric to each apartment unit (cost of $4,000 for average of $250 monthly savings). More than 22,000 people moved to the Lakeland-Winter Haven metropolitan area in 2018 earning the metro the fourth spot on U.S. Census’s Top 10 Metropolitan Areas in Percentage Growth list.

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Park Information

Number of MH Lots: 30
Year Built: 1965
Size: 6 acre(s)

Financial Information (Actual)

Gross Income: $204,572
Operating Expense: $58,052
Net Operating Income: $146,520
Expense Ratio: 28.4 %

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