Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 4.8%
- Listing ID: 1612842
- Posted On: Feb 25, 2022
- Updated On: May 5, 2022
Description
This property consists of 134 approved and licensed Mobile Home lots with County Utilities.
Currently the park has 61 homes installed, out of the 61, 55 are tenant owned homes at $300 a month lot rent.
Property includes 4 brand new park owned homes that are ready to be sold.
These homes cost the seller $84,000 each to purchase and install.
1 park owned mobile home that is rented at $1,100.
1 abandoned home that property owner is in the process of claiming the title, after a renovation this home could rent around $1,100.
73 vacant mobile home lots ready for homes.
Location
Western Palm Beach County is vast and primarily agricultural.
On the southeastern rim of Lake Okeechobee lie the cities of Belle Glade, Pahokee, and South Bay, the westernmost communities in Palm Beach County.
These cities possess a unique vantage point. They are…
• The epicenter of agricultural production – primarily sugar cane and
30 types of vegetables – with 500,000 acres annually harvested.
• The launch pad to Lake Okeechobee itself: bass fishing paradise and
vital fresh-water resource.
• The home of 21st-century food processing and packing, sugar milling and refining, manufacturing, distribution, and operations centers with a firm understanding of sustainability.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 134 |
| Total Occupancy: | 46.0 % |
| Average MH Lot Rent: | $300 |
Financial Information (Pro Forma)
| Gross Income: | $211,200 |
| Operating Expense: | $41,905 |
| Net Operating Income: | $169,295 |
| Expense Ratio: | 19.8 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 5 |
| Average Rent for Park-owned Homes: | $1,100 |
