Ideally located in Ocala, FL only 45 minutes from Orlando and its attractions. The surrounding farms are famous for their thoroughbred horses. The city of Ocala is conveniently located just off I-75 in the heart of Northern Florida and a short drive from the University of Florida in Gainesville and the Jacksonville / St. Augustine beaches. Ocala is also known for nearby Silver Springs, which is the site of one of the largest artesian springs in the world. Silver Springs also offers a nature theme park, which is one of the earliest tourist attractions in Florida.
Edgewood Mobile Home Park is sitting on 2.64 acres of beautiful oak forest. This is a turnkey park that has received over $140,000 in capital improvements over the last year and is in very good condition. The mobile park holds 22 mobile homes and 2 single-family houses, which are currently 85% rented (5 mobile homes will be renovated and rented by March 1, 2016). All mobile homes and houses are park owned. All tenants are on long-term leases and pay rents in a timely manner.
Rents are presently below market standard at $500 per month. Average rents in the area are between $550-650 per month. Rents could be raised at least by $50 as leases expire to bring an exceptional return on investment. If rents are raised to normal area standards, this could generate additional income of $15,000 per year. The park is serviced by well water and there are 8 septic tanks with individual drain fields. Septic tanks have been serviced and upgraded in 2015. Each mobile is separately metered for electric and paid for by the tenant.
Whether you are a seasoned investor or a first time mobile home park buyer, this park is very easy to manage with no improvements needed and minimal operating costs.
