Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 11.5%
- Listing ID: 569926
- Posted On: Sep 17, 2015
- Updated On: May 29, 2016
Description
Centrally located in Melbourne Florida with easy access public transportation, I 95, shopping schools and more. 20 minutes to Cocoa Beach, 1 hr from Orlando, 1 hr to Daytona, 3 hours to Miami.
When the property was developed in 1972 the area was mostly rural and the street was mainly Highway commercial type mixed use. The area is going through re-gentrification and the surrounding area is a mix of residential subdivisions along with some multifamily and commercial properties along the main roads.
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Park Information
Community Type: | All Age |
Number of MH Lots: | 34 |
Total Occupancy: | 70.0 % |
Year Built: | 1972 |
Average MH Lot Rent: | $400 |
Size: | 3 acre(s) |
Financial Information (Actual)
Gross Income: | $111,000 |
Operating Expense: | $34,289 |
Net Operating Income: | $76,711 |
Expense Ratio: | 30.9 % |
Debt Info: | requires new |
Lot Information
Singlewide Lots: | 34 |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 27 |
Average Rent for Park-owned Homes: | $425 |