Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1706663
- Posted On: Jul 6, 2022
- Updated On: Nov 22, 2022
Description
- Stabilized Community
Royal Palm Estates offers investors the opportunity to enter the Cairo market with a stabilized asset. The community benefits from all public utilities with electricity being directly billed to the tenants and water/ sewer being billed back from the park to the tenant. Royal Palm also has a management structure in place with an onsite manager and maintenance person.
- Cap-Ex Campaign
Royal Palm has recently undergone major improvements. Among other things, the seller has removed trees, renovated infrastructure, and brought in new homes. The roads have been repaved and parking pads created.
- Opportunity Zone Location
The community is located inside a qualified opportunity zone, which offers tax incentives to investors with opportunity zone funds.
- Upside in Occupancy & Infill
The upside remaining for this opportunity is in filling vacant park-owned homes, filling & developing some existing vacant lots, and infilling with new homes. There is a housing shortage in Cairo, specifically in the manufactured housing sector.
Location
All Public Utilities, Water/Sewer Billed Back
Asphalt Roads & Drives
Playground Area
14 Vacant Lots for Infill Opportunity
Opportunity Zone Location
Tallahassee, FL MSA Population > 380,000
MSA Positive Population and Job Growth
MSA Median Home Price: $202,000
MSA Median Household Income: $45,377
Park Information
Community Type: | All Age |
Number of MH Lots: | 103 |
Total Occupancy: | 78.0 % |
Year Built: | 2021 |
Average MH Lot Rent: | $418 |
Size: | 25 acre(s) |
Lot Information
Singlewide Lots: | 103 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |