Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 4.0%
  • Listing ID: 1884634
  • Posted On: Sep 14, 2022
  • Updated On: Mar 10, 2023

Description

Unprecedented opportunity to obtain 42 total units in the rapidly growing Lakeland Winterhaven Metropolitan area. 33 MHP units, 6 RV spaces, and 3 apartments make this a well-diversified asset with deep potential. 5 Lakefront lots with an added dock with potential for additional rental revenue from boaters. 4 income streams under one umbrella in this location are nearly impossible to find. Fill and flip for $2.5mm+! 12 POHs included, this is a "blank canvas" property that is ready to go.

Amenities

  • Laundromat
  • Storage
  • Club House
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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 27.0 %
Year Built: 1965
Average MH Lot Rent: $425
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $60,000
Operating Expense: $15,000
Net Operating Income: $45,000
Expense Ratio: 25.0 %

Lot Information

Singlewide Lots: 20
Doublewide Lots: 13

RV Information

Number of RV Lots: 6
Average RV Lot Rent: $450

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $725

Video

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