Mobile Home Park Details
- Cap Rate: 4.2%
- Listing ID: 1591781
- Posted On: Jan 26, 2022
- Updated On: Sep 28, 2023
Description
Cherrydon Mobile Home Park is a well-maintained 55-site age-restricted manufactured housing community in Southeast Florida on the Atlantic coast just minutes from the Kennedy Space Center, gorgeous beaches, golf courses and spectacular views of the NASA shuttle launches. The fully-occupied park sits on more than 5 acres with public water and sewer.
The asking price for the property is $5,800,000 ($105,455/site)
This represents a 4.2% cap rate at estimated market rents.
100% occupied and rents are $100+ below market leading to significant growth potential
Located directly off U.S. 1 and within 3 miles of I-95, the park sits just off the Indian River with views of the Kennedy Space Station Launch Pads.
55+ senior manufactured housing community with strong demand, all tenant-owned homes and long-term tenants
There is a possibility to improve other income by billing back for trash, adding pet fees and other ancillary income.
https://www.crexi.com/properties/748072/florida-cherrydon-mobile-home-community
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Location
https://www.crexi.com/properties/748072/florida-cherrydon-mobile-home-community
Join email list and provide investment criteria: https://lnkd.in/g9xC5k-a
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 55 |
Total Occupancy: | 100.0 % |
Year Built: | 1958 |
Size: | 6 acre(s) |
Utility Information
Water: | City |
Sewer: | City |