The Esterson MHC Team is pleased to present Melbourne MHC, a 55+, stabilized with upside investment opportunity consisting of 37 total rental units in a highly desirable location.

Centrally located in Melbourne, FL, this community represents one of the most desirable locations in the state. The community is strategically positioned with easy access to major highways, schools, shopping centers, and a large variety of employment opportunities. It’s less than 15 minutes from the famous Paradise Beach and more of the state’s most popular beaches, 15 minutes to Melbourne-Orlando International Airport, and 15 minutes to downtown Melbourne. A rapidly growing city and a top tech hub in FL, Melbourne is home to major employers like NASA, Harris Corporation, and Rockwell Collins. With the recent expansion of the aerospace and defense sectors, Melbourne’s economy continues to diversify and attract skilled workers and families seeking affordable housing.

Melbourne MHC is a 55+, year-round community that consists of 35 MH lots and 2 single family homes (SFH). The community is serviced by public water and sewer, which is billed back to tenants. Trash is serviced by a dumpster being paid for by the park and included in rent. There are 35 tenant-owned manufactured homes (TOH) paying a monthly lot rental rate of $575, and both SFH’s are rented for $900 and $1,100 per month. All rates are significantly below market.

The current market MH lot rental rate is estimated at $825, with multiple comparable properties already charging this rate. With current occupancy of 100% at this community, limited affordable housing supply, and a growing demand for affordable housing, the community appears to be significantly under market. Local housing and rental data would suggest the SFH’s could be rented for as much as $1,500 per month.

We are asking investors to submit offers at $4,500,000. This community is being offered with seller financing terms of 70% LTV and 5 years of Interest Only, with YR 1 at 3% IR, YR 2 at 3.5% IR, YR 3 at 4% IR, YR 4 at 4.5% IR, and YR 5 at 5% IR. All offers must include price, inspection timelines, proof of funds, and relevant real estate experience.