Photo of Mobile Home Park
Photo of Mobile Home Park
CLUBHOUSE
CLUBHOUSE
RENOVATED POOL
RENOVATED POOL
RENOVATED POOL
RENOVATED POOL
HOMES IN PARK
HOMES IN PARK
HOMES IN PARK
HOMES IN PARK
HOMES IN PARK
HOMES IN PARK
Photo of Mobile Home Park
CLUBHOUSE
RENOVATED POOL
RENOVATED POOL
HOMES IN PARK
HOMES IN PARK
HOMES IN PARK

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Listing ID: 571080
  • Posted On: Sep 25, 2015
  • Updated On: Oct 12, 2015

Description

Up Scale Mobile Home Community with 106 lots and expansion area for additional 46 homes. This Community is a 55+ Adult Community with all Double Wide Homes (no single wide homes). . Expansion lots have electricity, water and sewer on each lot, just need to expand roads. Renovated clubhouse with new doors and windows, membrane roof, new a/c unit, renovated heated pool, roads repaved, waste water treatment plant updated to 12000 gals per day, lift station pumps new, water tank 5 yrs old, new well motor and pump, new electrical panels, new surge protection system, 18 park owned rentals, two of which are new Skyline Models. Well maintained landscaped park on 24.8 acres. This park in not in a flood zone 39ft above sea level at lowest point. Many homes have been renovated in past few years. This park has 55 ft wide x 80 ft lots, 24 ft wide streets and 3 ft sidewalks on each side, with Jamaica Blvd 34 ft wide. Widest streets and lots in Pasco County. Park has street lights, shuffle board courts, horse shoe pit, clubhouse with pool table and furnishing. Gross Annual Income $650,000 with Annual Expenses of $125,000. Gross Net Income $525,000. Current lot rent is $528 per month standard lots and corner lots $535 per month with increase of $10 effective 1/1/16. This park has been owed by same individual for 28 years. Solid financial history. Cap Rate 8.0%

Location

Located 1.9 miles from SR52 on Moon Lake Road or 2 miles from Ridge Road on Moon Lake Road. Located near Shopping, High Scale Homes, grocery and Shopping Centers, Lowes and Home Depot, Restaurants, Churches, public Golf Courses, and Colleges.

Amenities

  • Pool
  • Storage
  • Club House
  • Handicap Accessible
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Park Information

Community Type: 55 And Over
Number of MH Lots: 152
Total Occupancy: 90.0 %
Year Built: 1973
Average MH Lot Rent: $533
Size: 25 acre(s)

Financial Information (Actual)

Gross Income: $600
Operating Expense: $125
Net Operating Income: $575
Expense Ratio: 20.8 %

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 15
Average Rent for Park-owned Homes: $735

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