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

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.0%
  • Listing ID: 441256
  • Posted On: May 2, 2014
  • Updated On: Sep 8, 2015

Description

22 Space Mobile Home Park located on US 92 near Publix corporate offices. This is a growing area for jobs with Amazon moving in. We have completed all the hard work, rehabbed the park, and have brought in some nice homes. This property is in position to be a cash flow king from your first day of ownership with little to no maintenance. It is currently a nice mixture of 9 home owners paying $350 per month lot rent (no maintenance required), and 3 park owned rentals that are always occupied with good tenants. This park is a quiet, safe, community with good people and no drugs. We never have cops in the park. Park brings in $5748 a month and we never have a problem receiving rent payments ON TIME. Expenses fluctuate around $2000. I can show you how to double the current rent roll by continuing on with our business model. Enormous amount of room for growth. Only reason we are selling is because we are moving on to bigger projects within this sector. Get your cash out of banks earning 0% interest and start making money today. Get paid to hold a nice commercial track of land right on US 92.

** DEAL JUST GOT BETTER ** View the attached letter I just received from the Florida Department of Transportation. The government is putting some money into US 92 in front of this property. From my past experience the government will compensate the land owner which means them putting the park on city water city sewer and waiving the impact fees is a strong possibility. If this occurs the park will likely gain 6 more MH spaces for a total of 28. Call for more details.

I left out the exact address because I do not want people driving through the park telling my tenants about the potential property sale. Please contact me first for more details. Thank you.

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Park Information

Community Type: All Age

Financial Information (Actual)

Gross Income: $72,000
Operating Expense: $24,000
Net Operating Income: $48,000
Expense Ratio: 33.3 %

Lot Information

Singlewide Lots: 22

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 3
Average Rent for Park-owned Homes: $866

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