Contact Information

Mobile Home Park Details

  • Price: $399,900
  • Purchase Method: Cash, New Loan
  • Cap Rate: 3.0%
  • Listing ID: 3104236
  • Posted On: Jun 8, 2023
  • Updated On: Oct 24, 2024

Description

This Mobile Home Park / RV Park is waiting for a new owner with vision to build up this MH/RV park and continue with the renovations that were started. In 2022 a new Septic System was installed to accommodate 12 Mobile Home Units. Currently there are 6 occupied sites with a few long term tenants in place. There are 6 vacant sites waiting for a Mobile Home or RV to set up residence. 1 of the Mobile Homes is owned by the park and will convey with the sale. Site has its own separate electric meter. The park has it's own retention pond. Included in the lot rent: water, sewer and lawn mowing. This park has so much upside potential! The yellow property lines are for visualization only, a survey will be required for accurate property lines. A Confidentiality Agreement will need to be signed before seeing any of the financials. Please schedule a showing appointment, do not disturb the residents. Seller is a FL licensed real estate agent. Call listing agent: Nancy May Advantage Realty #1 @ 863-852-6687 /nmay121@gmail.com for financials / details to put a contract together for you today!

Location

From US 27 and Hammock Road. Head South on US 27. Turn (L) onto 98 toward Lorida. Follow 98 all the way to Okeechobee. Turn (R) onto NW 30th. Property is on the right.

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Park Information

Community Type: All Age
Number of MH Lots: 12
Total Occupancy: 50.0 %
Average MH Lot Rent: $290
Size: 5 acre(s)

Financial Information (Actual)

Gross Income: $20,620
Operating Expense: $9,960
Net Operating Income: $10,654
Expense Ratio: 48.3 %

Lot Information

Singlewide Lots: 12

Utility Information

Water: Well
Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 2
Average Rent for Park-owned Homes: $850

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