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

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

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