Contact Information

Jon Fisher
License: 471.020503 (IL) 18000549 (IN) 117228 (SC)

MR LANDMAN LLC

CONTACT BROKER

Price: $3,000,000
Purchase Method: Cash, New Loan
Cap Rate: 8.6%
Listing ID: 4604870
Posted On: Mar 5, 2024
Updated On: Mar 29, 2024

Description

MR. LANDMAN, LLC has been retained by an investment group currently under contract to assign their contractual rights to a 3rd party.

This portfolio comprises five manufactured home parks (MHPs) located within two neighboring communities in Polk County, FL. In total, the portfolio consists of 53 units, comprising 48 park-owned homes (POH) and five single-family residences (SFRs). Approximately 71% of the tenants have resided in the parks for over one year, indicating minimal turnover. All properties are zoned for mobile homes or mobile home parks, with rent payments facilitated through the doorloop.com app. The assignor assesses the roads as being in 'good' condition and asserts the absence of code violations. The current owner, a handyman, has promptly addressed repair needs, minimizing deferred maintenance for future ownership. Financial records provided to the listing agent indicate that the current owner invested over $125,000 in repairs, maintenance, and tree work in the past year. Notably, the majority of trailers are older, with titles retired.

MR. LANDMAN, LLC is a licensed real estate entity in the State of Florida under Lic#CQ1062293. Jonathan Fisher is a licensed broker in the State of Florida under LIC#BK3489532.

Location

Polk County is located in the central portion of Florida. The county population was 725,046, as of the 2020 census, and estimated to be 787,404, as of July 1, 2022. Its county seat is Bartow, and its largest city is Lakeland.

Polk County comprises the Lakeland–Winter Haven metropolitan statistical area. This MSA is the 77th-most populous one and the 89th-most populous primary statistical area of the United States as of July 1, 2012.

The center of population of Florida is located in Polk County, near the city of Lake Wales. Polk County is home to one public university, one state college, and four private universities.

This portfolio of MHP's is approximately:

35 miles NE of Tampa, FL
65 miles SE of Orlando, FL
110 miles N of Fort Myers, FL
194 miles SW of Jacksonville, FL
237 miles NE of Miami, FL

A typical home costs $312,500, which is 7.6% less expensive than the national average of $338,100 and 13.8% less expensive than the average Florida home, at $362,400. Renting a two-bedroom unit in Polk costs $1,160 per month, which is 18.9% cheaper than the national average of $1,430 and 34.5% cheaper than the state average of $1,560.

Polk, FL County has a higher level of crime than the national average. Specifically, violent crime in Polk, FL County is 25.3 compared to the US average of 22.7, and property crime in Polk, FL County is 52.4 compared to the US average of 35.4.

Polk County, FL offers an attractive job market with a projected growth rate of 34.06% over the coming years, far higher than the national average of 30.54%. The unemployment rate is also lower than the national average at 4.4%, indicating that jobs in this area are more accessible than elsewhere.

Here is a list of the 15 largest employers in Polk County, FL:

•Publix Super Markets (15,361 employees)
•Polk County School Board (13,459 employees)
•Lakeland Regional Health (6,942 employees)
•Walmart (5,523 employees)
•Amazon (5,500 employees)
•Geico (3,800 employees)
•BayCare (2,614 employees)
•Polk County Commissioners (2,251 employees)
•City of Lakeland (2,000 employees)
•Polk County Sheriff’s Office (1,830 employees)
•Watson Clinic (1,797 employees)
•Mosaic (1,707 employees)
•Legoland (1,500 employees)
•Advent Health (1,497 employees)
•Polk State College (1,250 employees)

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