This comprises 76 rental properties in North Ft Myers, Florida in a subdivision called Suncoast Estates. It also contains an office with a workshop, a warehouse with a yard, plus 3 vacant lots with septic, and 2 vacant lots w/o septic, all on 34 acres.

Some of the properties are contiguous, and some are not. The residents do NOT own their mobile homes. They rent them out along with the land. This is not a land lease mobile home park. The residents do NOT pay lot rent, and are NOT responsible for repairs on their units. The units are rented out similar to 76 single family homes.

Each of the properties may be sold individually, taking advantage of any real estate price appreciation.

Inventory of Property:
1/1 Mobile Homes S/W 3
2/1 Mobile Homes S/W 38
2/2 Mobile Homes S/W 8
3/1 Mobile Homes S/W 5
3/2 Mobile Homes S/W 12
4/1 Mobile Home S/W 1
3/2 Mobile Homes D/W 5
4/2 Mobile Home D/W 1
3/2 Single Family Pool Home 1
4/2 Single Family House 1
Store 1
Office and Worhshop 1
Warehouse and lot 1
Vacant lots with septic 3 Vacant lots w/o septic 2

There is a spreadsheet of all the properties, without addresses, which is available now. The addresses will be made available when an effective contract is agreed to.

There is a 3% commission to the selling broker.

2015 Financial Statement

Income
Gross Rents ($48,195/month)` $578,340
- 5% vacancy and collection 28,917
Net Rents $549,423

Expenses:
Manager Salary 19,500
Handyman Salaries Repair & Maintenance 47,600
Repair materials 48,823
Real Estate Taxes 34,302
Insurance – Damage 27,474
Insurance – Liability 9,669
Total Expenses $187,368

**Tenants pay for all utilities and lawn mowing

NET OPERATING INCOME $362,055

We estimate the total value is $3,725,000

But you want a deal, so here is a discount of $735,000

The price is $2,990,000

The cap rate is 12.1%