Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 912222
- Posted On: Mar 22, 2018
- Updated On: Apr 26, 2018
Description
Clearwater, FL – 70 space MHP Incl 2 Apartments For Sale!
Note: This is one of two MHP’s this owner is offering for sale. The other is the 47-sp Sunshine City MHP located in St Petersburg, FL. Seller will consider providing financing for the Sunshine City MHP. (see attached Report)
Location: 5860 15th Ave N, Clearwater, FL 33760
The Sun Terrace MHP is located just minutes from Clearwater Beach and the Down Town area. This park consists of:
70-space
63 Park Owned Homes
1- 2-unit Apartment
Family Park
City Water & Sewer (Submetered)
94% Occupied
GR = $508K
NOI = $305K
Property also includes a Laundry Building (not currently used), Office, Recreation Building (not currently being used) and a maintenance building.
Rents collected average $602 (Apartments), $253 (Lot Rent), $463 (Single Wide Units), $835 (Double-wide Units).
Current rents are well below market. The owner has incorporated a 7% increase in rents for new tenants but has not increased the rents for the long tern tenants.
Asking Price: $2,900,000
Feel free to contact me for further information.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 70 |
| Total Occupancy: | 94.0 % |
| Average MH Lot Rent: | $253 |
| Size: | 4 acre(s) |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 63 |
| Average Rent for Park-owned Homes: | $465 |
