Photo of Mobile Home Park

Mobile Home Park Details

Purchase Method: Seller Financing
Land: This is land for developing a mobile home park
Cap Rate: 8.4%
Listing ID: 371129
Posted On: May 7, 2013
Updated On: Nov 25, 2013

Description

NEW PARK FOR SALE: Citrus County-Florida
~~~Principals Only~~~

Senior Mobile Home Park in Citrus County Florida

91 sites Senior Park on 12.5 acres, room for expansion and plenty of up- side.

Park has 68 rental sites currently and 23 more sites ready to fill. Owner has impact fees paid for 21 sites and sewer and water is set-up for vacant sites. Additional 63 sites to extend mobile home park plus 2.3 acres commercial corner!

Private water and sewer. Paved roads. Public water and sewer close by. Park with in close drive of hospital and VA clinic. The Lot rental is currently $245.00 for 64 sites and $260.00 for 2 sites. Rents are on the low side. Rent increase go from $270 to $285 on 11/01/2013.

2013 Income & Expenses with rent increase on 11/01/2013
Gross Income $ 230,103
Expenses $ 64,162
NOI $ 165,941

Park on 12.5 acres with additional 14.24 of vacant ground that would be sold with park. 2.30 acres vacant commercial and 11.94 acres vacant residential ground. Vacant ground could expand park or sell off. County property surrounds park.

Park has Updated 2013 prospectus in place. Existing billboard on site transfers with property. Plenty of room for storage.

NEW Asking price of PARK & Vacant Land $ 1,950,000.00

~~~Owner would consider financing with 1 million down~~~

Location

THE ADDRESS IS NOT CORRECT, please sign the attached c/a agreement to receive all financial information and the correct address. Thank you.

Disclaimer: The information has 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 advisor's. You and your advisor's 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 Bob Webster 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.