Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 11.0%
  • Listing ID: 441735
  • Posted On: Feb 26, 2015
  • Updated On: Jun 9, 2015

Description

Pristine +55 Community. 68 Space Mobile Home Park located on US 41 just north of HWY 54. This is a beautiful lake front senior community. This property is in position to be a cash flow king from your first day of ownership with little to no maintenance. It is currently a nice mixture of 49 home owners paying $320-$330 per month lot rent (under market by $100, plenty of room for yearly increases per market comparables), and 16 park owned rentals that are always occupied with good tenants. This is a quiet, safe, 55+ community with good people and no drugs. This is not a transient type community. The people living in our community are permanent residents. Demand for a safe place for seniors to live in Florida is through the roof. Demographics should support this demand for many years to come. The park's monthly gross income fluctuates around $28,000 a month. Expenses fluctuate around $9000 a month. Get your cash out of banks earning 0% interest and start making money today. Get paid to hold a nice commercial track of land right on US 41 (Land O' Lakes Blvd). City Sewer/Water hookups available.

I left out the exact address because I do not want people driving through the community telling my tenants about the potential property sale. Please contact me first by phone for more details. Thank you.

Amenities

  • Laundromat
  • Club House
  • Handicap Accessible
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: 55 And Over
Number of MH Lots: 68
Total Occupancy: 98.0 %
Average MH Lot Rent: $330
Size: 11 acre(s)

Financial Information (Actual)

Gross Income: $330,000
Operating Expense: $99,000
Net Operating Income: $231,000
Expense Ratio: 30.0 %

Lot Information

Singlewide Lots: 28
Doublewide Lots: 5

RV Information

Number of RV Lots: 35
Average RV Lot Rent: $320

Utility Information

Water: Well
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 16
Average Rent for Park-owned Homes: $575

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