Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 13.0%
- Listing ID: 726529
- Posted On: Dec 2, 2016
- Updated On: Jul 18, 2019
Description
Note: There are 45 rental units in this park. 23 MH, 12 RV and 10 water front cabins. Watson's Fish Camp is a 55+ lake front mobile home and RV community located on Tsala Apopka Lake in Hernando. Tsala Apopka Lake is part of Florida’s chain of lakes. The property consists of 27 parked-owned rental homes; 10 lake-front apartments; 4 mobile home site rentals; and 4 RV site rentals. Access boat ramp is provided, laundry room, pavilion. Rents include water, sewer, lawn care, trash and a park-wide Wi-Fi network. Utilities are via well and septic.
Location
Located along RT41 north of Brooksville in the quiet community of Hernando in north central Florida. Hernando is a short drive up RT200 to Ocala, RT75, medical facilities and major shopping opportunities.
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 23 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1959 |
| Average MH Lot Rent: | $591 |
| Size: | 5 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $334,884 |
| Operating Expense: | $123,897 |
| Net Operating Income: | $210,987 |
| Expense Ratio: | 37.0 % |
| Debt Info: | $1,120,000, 5.5%, 25 yr amort |
Lot Information
| Singlewide Lots: | 18 |
| Doublewide Lots: | 5 |
RV Information
| Number of RV Lots: | 12 |
| Average RV Lot Rent: | $460 |
Park-Owned Homes
| Number of Park-owned Homes: | 41 |
| Average Rent for Park-owned Homes: | $596 |
