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
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
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
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Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.0%
  • Listing ID: 983322
  • Posted On: Aug 25, 2018
  • Updated On: Nov 2, 2018

Description

Development opportunity. 13 existing lots on 2.96 acres + 9.53 acres of vacant land for expansion (up to 36 undeveloped lots). Owner financing possible with 30% down at 6%.

12 out of 13 existing lots are presently occupied and bring around $4,600/month of gross income:
-1 park owned single wide mobile home
-1 park owned doublewide mobile home
-4 resident owned single wide mobile homes (lot rentals)
-6 resident owned RVs (lot rentals)

13 existing lots are serviced by 1 water well and 2 septic systems. Both the water well, septic systems, and underground lines are in great condition. Large lots of 10,000 sq feet - plenty of space for residents and their pets. There is a very efficient on-site manager/maintenance man who is willing to stay on with the new owners.

The park is very quiet and safe, 10 min walk from famous Crescent Lake (a part of the St. Johns River) which is known as a Bass Capital of the World, 8 min drive from Winn-Dixie and Crescent City with it's restaurants, 25 min from Palatka, 1 hour from Jacksonville, and only 50 min from famous St. Augustine / Palm Coast beaches.

Currently the 12.49-acre parcel has two zoning designations: Residential-Mobile Home Park (on the developed 2.96-acre portion) and Commercial General or C3 on the undeveloped 9.53-acre portion. Zoning for a 9.53-acre portion was amended in 2008 by the previous owners from RMH (Residential-Mobile Home Park) to C-3 (General Commercial) and can be converted back to RMH according to the county (the process takes 2-3 months). The RMH zoning designation is consistent with 3 Future Land Use Designations: Rural Center, Urban Reserve, and Urban Service each with various mobile homes per acre depending on type of utilities (2 per acre with septic/water wells and 4 per acre with central water and sewer).

The current C3 zoning for the undeveloped 9.53-acre portion allows development of an Overnight Recreational Park.

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

Park Information

Community Type: All Age
Number of MH Lots: 13
Total Occupancy: 90.0 %
Size: 13 acre(s)

Financial Information

Gross Income: $55,380
Operating Expense: $16,630
Net Operating Income: $38,745
Expense Ratio: 30.0 %

Lot Information

Singlewide Lots: 12
Doublewide Lots: 1

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic