Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 8.5%
- Listing ID: 3043509
- Posted On: May 31, 2023
- Updated On: Nov 14, 2023
Description
One of two beautiful Davenport MHP's located within 3-miles from each other. Each park is zoned Commercial-Industrial, promising more development options. Developer can enjoy collecting an income while getting their plans in place. 3.5-Acres of the property can be developed as a Storage business.
1111 Hwy 17-92 N, Davenport, FL:
• -15-acres MOL
• -41-Space (38 POM's)
• -8-Cottages
• -3 Residential Homes
• -Gross Revenue $560,000
• -NOI $448,003 (Seller NOI)
• -$364,000 (New Owners Expected NOI)
• -93% Occupied
• -Zoned Commercial-Industrial
• -Possible Outdoor Storage on 3.5-acres MOL of this site
Seller Financing
• 50% Down Payment
• 6% Interest Only
• 5-Year Balloon
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Number of MH Lots: | 52 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $1,200 |
| Size: | 15 acre(s) |
Financial Information (Actual)
| Gross Income: | $560,000 |
| Operating Expense: | $196,000 |
| Net Operating Income: | $364,000 |
| Expense Ratio: | 35.0 % |
Lot Information
| Singlewide Lots: | 52 |
Utility Information
| Water: | Well |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 38 |
| Average Rent for Park-owned Homes: | $1,200 |
Video
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