Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 8.2%
- Listing ID: 4736452
- Posted On: Mar 14, 2024
- Updated On: May 14, 2024
Description
This offering are two MHP’s located within 10-minutes from each other. Both parks include a “Turn-Key”, long-term steady tenant base, and a significant return on investment.
Property Address:
-710 S 50th St, Tampa, FL 33619
-7213 Harney Rd, Tampa, FL 33617 (Vacant lot across the street from this property)
This small portfolio that is comprised of:
-12-unit MHP – 1 House MHP (Tampa) - Zoned CG
-4-Unit MHP (Thonotosassa)
-1-vacant Waterfront Lot - Zoned PD (Thonotosassa)
Currently the MHP are 100% occupied:
-$185,256- Gross Revenue
-$122,455 – NOI
Upside: 1.Rents are below market. 2. Seperate water meters can be installed saving approximately $5000 /an in expenses.
Price: Seller will consider all reasonable offers
Seller Financing: Rate and Terms TBD but may include:
-35%-45% Down Payment
-5%-6% Interest Only
-5-10-Year Balloon
Park Information
Community Type: | All Age |
Number of MH Lots: | 16 |
Total Occupancy: | 100.0 % |
Year Built: | 1945 |
Average MH Lot Rent: | $450 |
Size: | 3 acre(s) |
Financial Information (Actual)
Gross Income: | $185,256 |
Operating Expense: | $62,801 |
Net Operating Income: | $122,455 |
Expense Ratio: | 33.9 % |
Lot Information
Singlewide Lots: | 16 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Park-Owned Homes
Number of Park-owned Homes: | 9 |
Average Rent for Park-owned Homes: | $850 |