Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.2%
- Listing ID: 1455814
- Posted On: Jun 10, 2021
- Updated On: Sep 15, 2021
Description
29 Unit Mobile home park on busy main road, located in Ocala. Many new homes and businesses being built on this road due to Amazon center recently located near this park. The mechanical systems are up to date, and all inspections have passed. 4 septic systems and macerator pumps as well drain fields are all good. The well has all newer equipment and controlled by federal reporting company on behalf of current owner, all reports are up to date and submitted. Park has 21 units rented and there are 7 vacant sites. The park owns all Park model trailers and Mobile homes. Based on sale price the gross cap rate is over 14%.
See attached P&L accurate as of 6/12/2021
Location
4 miles north east of downtown Ocala
SEC 25 TWP 14 RGE 21
COM 303.06 FT S OF NW COR OF SE1/4 OF SW1/4 TH S 282.15
FT S88-06E 712.8 FT MOL TO WLY ROW OF US HWY 441 SAID PT
BEING 33 FT FROM CL OF HWY MEASURED AT RIGHT ANGLES TO CL
TH N32-23-15W ALONG ROW 337.35 FT N87-44-50W 532.2 FT
MOL TO POB
Park Information
| Number of MH Lots: | 29 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1974 |
| Average MH Lot Rent: | $750 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $11,070 |
| Operating Expense: | $2,749 |
| Net Operating Income: | $8,321 |
| Expense Ratio: | 24.8 % |
| Debt Info: | see attached P&L |
Lot Information
| Triplewide Lots: | 0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 21 |
| Average Rent for Park-owned Homes: | $600 |
