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

Mobile Home Park Details

  • Cap Rate: 14.3%
  • Listing ID: 638165
  • Posted On: Feb 25, 2016
  • Updated On: Apr 1, 2016

Description

Ten Space Mobile Home Park For Sale Below Appraised Value. The park is in historic Cross Creek around the corner from the Marjorie Kinnan Rawlings estate and the famous Yearling Restaurant. City water and city sewer (GRU-Gainesville Regional Utilities) - each tenant pays their own utilities. Electricity is provided by Clay Electric. Park is on a cul-de-sac with other privately owned mobile homes and lots. Mostly seniors and snow birds occupy the area. Each tenant owns the mobile home and pay $240 monthly lot rent. Out of the 10 lots, 4 are currently rented and bringing in an income of $960 per month. The other 6 lots are vacant. Current survey and recently upgraded utilities by City. It sits on a canal to Orange Lake. Property taxes are: $2351.

This mobile home park is within twenty minutes of Gainesville, Ocala, and historic Micanopy. Cross Creek sits between lakes Orange and Lochloosa, hence the name. Golf courses are within a thirty minute drive. Abundant wildlife in the area. There is a huge conservation and preservation area around Cross Creek prohibiting development. This unique area offers privacy, yet access to some of the best health care facilities in the world - Shands in Gainesville. You are in the center of the antique scene, Gator Football, the Harn Museum and a host of other activities to keep you entertained. Great for retirees or for someone looking for an owner/occupy investment.

Income specified above is based on the mobile homes being individually owned and only the lot being rented. I have been asked how much possible revenue could be generated if the mobile home was owned by the park and rented out. Based on the local market, each mobile home, depending on size, could generate $425 to $475 of rent per month, which produces a monthly income between $5100 or $5700 if all ten spaces are rented, or an annual income of $61,200 or $68,400 if fully rented. These are projections, but consistent with the local market. Appraised for $100,000 in 2009.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 10
Total Occupancy: 40.0 %
Average MH Lot Rent: $240
Size: 1 acre(s)

Financial Information (Actual)

Gross Income: $11,040
Operating Expense: $2,383
Net Operating Income: $8,657
Expense Ratio: 21.6 %
Debt Info: none

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $0