Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 10.1%
- Listing ID: 3069899
- Posted On: Jun 5, 2023
- Updated On: Aug 8, 2023
Description
This property is selling 9 mobile homes in addition to a single-family
house. Furthermore, there is also potential for 1 RV space available.
The property has experienced renovations such as new septic drain
fields and a new water tank with a filtration system specifically for the
well. Additionally, there are new power lines and power poles that are
metered separately for the entire park, a new fence surrounding the
property, a new gravel road throughout, and fresh paint and skirting.
Lastly, the mobile homes have also gone through renovation
processes, including new electrical, plumbing, roofs, and framing. Confidential sale. Do not approach tenants or drive through property with out scheduling with agent.
Location
This mobile home park is situated off HWY US 92 in Plant City, FL - a
city renowned as the winter strawberry capital of the world. Every late
winter, the city hosts the popular Florida Strawberry Festival, drawing
a massive number of attendees from the US and other parts of the
world. Given its agricultural industries, Plant City has a high demand
for affordable housing for its workforce.
Park Information
| Number of MH Lots: | 9 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $1,500 |
Financial Information (Actual)
| Gross Income: | $178,800 |
| Operating Expense: | $52,070 |
| Net Operating Income: | $126,730 |
| Expense Ratio: | 29.1 % |
Lot Information
| Singlewide Lots: | 9 |
RV Information
| Number of RV Lots: | 1 |
| Average RV Lot Rent: | $600 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
