Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 826207
- Posted On: Jun 24, 2017
- Updated On: May 19, 2019
Description
NEW MOBILE HOME PARK ~~ FOR SALE
FAMILY MHP ~ 124 SITES ~ Polk County, Auburndale, Florida
INCREASED REVENUE
PRINCIPALS ONLY ~ REDUCED ASKING PRICE $4,600,000
SELLER IS READY TO SELL
BANK FINANCING AVAILABLE WITH 25% to 35% DOWN
This Park has 124 Total Sites with 112 Long Term Leases, 10 Vacant Lots
High demand location between Orlando and Tampa.
20 Acres (Plus or Minus)
Great upside income potential.
DESCRIPTION
FAMILY Mobile Home Park ~ Long Term Rentals ~ Maintenance Shop
Experienced Manager and Maintenance Staff will stay on for new owner.
Upside rental income potential. Family Park with long term renters. All sites have community water & waste water connections. Each tenant pays their own utilities.
Opportunity for New Owner to increase income by raising rents, leasing vacant lots, and renting the vacant park owned lots and homes. Owner has scheduled Lot Rent increases for later this year.
Revenue
Revenue 2018 ~ $783,300 (Annualized from current Rent Roll)
Revenue 2017 ~ $726,043 (From Tax Return)
Revenue 2016 ~ $663,198 (Actual 2016)
Cap Rate ~ 11.0% ~ (With full time management, maintenance and rehab personnel included)
Revenue 2016 ~ $663,198 (Actual 2016 P&L Report)
(NOTE: Revenue described does NOT include potential rental income from additional vacant mobile homes and vacant lots that are available to be rented at this time, plus additional park-owned MH’s that are being remodeled and rented which are now on site.)
Warm regards,
Doug
Location
NOTE: The address listed is NOT correct.
Please fill in the BLUE BOXES on the attached C/A Agreement, then sign and return the attached CA Agreement to receive all Financial Information, photos and correct address.
Disclaimer: The information herein and (all files attached) have been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Information contained herein is deemed reliable, however, is not warranted by Doug E. Rhudy, his Agents, Webster Properties or Wm. Robert Webster Inc., A Real Estate Corporation. All offerings are subject to availability, errors, 2nd party information, change in terms and conditions without further notice.
