Lake in rear of park
Typical single wide unit
View down SW corner of park
Typical street view
Mobile Home Park Details
- Purchase Method: Assumable Loan
- Cap Rate: 12.0%
- Listing ID: 108731
- Posted On: Dec 5, 2011
- Updated On: Jan 3, 2013
Description
A very clean 124 space all-ages rental park in Lakeland with city utilities, 115 units owned, most are in great shape and updated. A great deal for a hands-on investor.
Location
Park is located on New Tampa Highway west of downtown lakeland and a short drive from 1-4. The immediate area is home to numerous Publix operations such as the publix bakery, credit uniion and the corporate offices just east. Numerous other employment centers are also nearby.
Amenities
- Laundromat
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 124 |
| Total Occupancy: | 85.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $270 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $600,000 |
| Operating Expense: | $280,000 |
| Net Operating Income: | $320,000 |
| Expense Ratio: | 46.7 % |
| Debt Info: | 1900000 |
Lot Information
| Singlewide Lots: | 113 |
| Doublewide Lots: | 11 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 115 |
| Average Rent for Park-owned Homes: | $595 |
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