Mobile Home Park Details

Purchase Method: Cash, New Loan
Cap Rate: 7.0%
Listing ID: 1581359
Posted On: Jan 5, 2022
Updated On: Apr 20, 2022

Description

Incredible value-add multifamily investment opportunity in Orlando: 4.66 acre, year-round, family orientated Mobile Home Park that consists of 26 lots plus one CBS single family home (3 bed/1 bath) and a separate management office with bathroom (under construction). Of the total 26 lots 22 are currently rented and 4 are vacant lots available for a future home.

Lot Rents are currently below market and can be increased from $750 to $1,000/month. Zoning allows for placement of new shipping container / tiny homes, further increasing potential for revenue. Zoning also allows for higher density, though current owner preferred more space between units to allow for yards/porches. Owner has the option of additional short-term rental income by leasing to RV owners/ seasonal tourists.

Location

Located in East Orlando. The Orlando market is a top global tourism destination and is also one of the fastest growing cities in the southeast. East Orlando has experienced tremendous growth over the past decade and has become known as the Innovation Gateway in Central Florida due to the UCF's expanding campus. Bithlo is located appx. 25 miles west of Titusville and Florida's Space Coast, home of SpaceX, and a rapidly growing population of technology and aerospace engineers. According to the 2020 U.S. Census, the population of Greater Orlando is 2,673,376, an increase of nearly 540,000 new residents between 2010 and 2020. The local market has a projected population growth over 6% from 2021-2026.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Get Financing