Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 8.7%
- Listing ID: 1516199
- Posted On: Sep 16, 2021
- Updated On: Mar 21, 2023
Description
9 space MHP of which 7 POH spaces rented.
6 x 2 bed/2 bath
1 x 2 bed/ 1 bath
City water & 1 : 1 septic.
Two septic tanks are new, others recently emptied & inspected
1 new 2021 MH.
6 late model homes. (Park and homes are insured for both property casualty & liability.)
Recent rehabs to all the late model homes, brought all electric to 200 amp, tree removal and trimming done in 2020.
Owner has started skirting replacement where needed.
All units have had interior & exterior pest control.
All units have upgraded backflow preventers on water units.
Front fence and signage added in 2020
All tenants well qualified with active leases in place. All current.
Upside:
2 vacant lots. Weekly calls from prospective tenants
New owner could bill tenants for water usage & trash
Park currently pays for trash, water and septic.
NOT in flood zone
Park has current FL Health Operating permit, copy attached.
Tallahassee Stats: http://www.city-data.com/city/Tallahassee-Florida.html
Location
Inside Capital Loop Circle. 10 minutes to universities, colleges and Capital complex. Airport is approx. 5 minutes away.
Park Information
Community Type: | All Age |
Number of MH Lots: | 9 |
Total Occupancy: | 78.0 % |
Year Built: | 1994 |
Size: | 2 acre(s) |
Financial Information (Actual)
Gross Income: | $53,100 |
Operating Expense: | $14,000 |
Net Operating Income: | $39,100 |
Expense Ratio: | 26.4 % |
Debt Info: | n/a |
Lot Information
Singlewide Lots: | 9 |
RV Information
Number of RV Lots: | 0 |
Average RV Lot Rent: | $0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 7 |
Average Rent for Park-owned Homes: | $632 |