Photo of Mobile Home Community
Photo of Mobile Home Community
Photo of Mobile Home Community

Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 13.2%
  • Listing ID: 420249
  • Posted On: Jan 7, 2014
  • Updated On: Aug 1, 2015

Description

62 unit park all rented lots owner occupied . City water and sewer billed to the tenants(no well or septic). There is an on-site property manager that is willing to stay on board for a new owner. Under new operations, this 10.8 Acre Park has huge up side capability to utilize all 62 lots in the park and do some TLC. Currently 34 are rented,additional 22 lots are already fully serviced with utilities and 6 vacant mobile homes with remodel/work would be ready to sell or rent. Filling the park would nearly DOUBLE the current NOI! ONLY $781,000 cash or with 40% down I will finance a new 1st mortgage at 10% for 25 years with 7 year balloon. potential of $204,728 income with all lots rented . All with no park owned homes.For further information call me. Don't go there alone and talk to the residents. Frank. Wauchula, Fl 863-698-4908. 2014 Gross Income 130,160. Expenses 27,000. NOI 103,160. CAP Rate 13.2%

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Park Information

Community Type: All Age
Number of MH Lots: 62
Year Built: 1970
Average MH Lot Rent: $300
Size: 11 acre(s)

Financial Information (Actual)

Gross Income: $130
Operating Expense: $27,000
Net Operating Income: $103
Expense Ratio: 20769.2 %

Lot Information

Singlewide Lots: 62

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

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