Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 14.6%
- Listing ID: 1323728
- Posted On: Sep 15, 2020
- Updated On: Feb 17, 2021
Description
1.5 acres +\- Commercial Property & Mobile Home Park, zoned C2, located on high traffic N.O.B.T (Hwy 441) in Orlando, Florida. (By appointment only. Please do not contact tenants as Seller would like to keep sale confidential )
The property includes 24 park owned rentals, 19 park mobile homes(18 rented & 1 used as storage), 2 RV(rented),
1 Cottage(rented), 2100 sq. ft. Commercial Building (771 sq. ft. rented, 1329 Sq. ft. vacant), also a laundry building (not open now), plus an additional income from the billboard sign rent.
This area is growing fast with new developments and only minutes to downtown Orlando.
The property is a great investment opportunity for the land alone, plus its a great money maker now, with a gross income last year of $152,187 & NOI of $132,206, with potential to increase the income by updating the rent (many are below market), remodeling & renting 1 mobile home that is used for storage, remodeling & opening laundry and renting additional commercial building space.
Location
Located on High Traffic, N. Orange Blossom Trail (Hwy 441), across Hwy from Lake Fairview and just minutes to downtown Orlando & The Citrus Bowl Complex and close to all Central Florida Attractions.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 100.0 % |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $152,187 |
| Operating Expense: | $19,981 |
| Net Operating Income: | $132,206 |
| Expense Ratio: | 13.1 % |
| Debt Info: | Non |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | Septic |
