Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 12.0%
- Listing ID: 1436391
- Posted On: May 10, 2021
- Updated On: Aug 12, 2021
Description
Both Parks are right down the block from each other and are under the same management and Park is Ran Absentee. There are a total of 30 lots, 29 of them have homes on them. All 29 units are park owned. Both have Septic that have all recently been serviced, one is on well, the other on city water. The price is at a 12 cap and once parks are stabilized it will be at 15-17 cap. no seller financing available. Park names are Sandys (2.48 acres) and Whispering waters way (2.9 Acres)
Location
Excellent location minutes away from Walmart Super-center and the I-75, also close to MacDill Air Force Base, hospitals, airport. Home of the 2021 Super Bowl winners and this area is exploding in growth and rentals fill up instantly.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 30 |
Total Occupancy: | 77.0 % |
Year Built: | 1970 |
Average MH Lot Rent: | $900 |
Size: | 5 acre(s) |
Financial Information (Pro Forma)
Gross Income: | $256,200 |
Operating Expense: | $77,070 |
Net Operating Income: | $179,130 |
Expense Ratio: | 30.1 % |
Debt Info: | Center State bank |
Lot Information
Singlewide Lots: | 30 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 29 |
Average Rent for Park-owned Homes: | $900 |