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Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.0%
  • Listing ID: 472518
  • Posted On: Sep 25, 2014
  • Updated On: Jul 21, 2017

Description

FAMILY MHP-41 SITES ~~ Polk County-Lake Wales, Florida

PRINCIPALS ONLY ~~ REDUCED ASKING PRICE: $ 1,250,000

SELLER FINANCING AVAILABLE TO QUALIFIED BUYER WITH 50% DOWN!

This 41 rental site Park is well maintained with excellent income, plus great demand for vacant lots. Park has 31 long-term rentals including two houses long term lot rentals. Great upside rental potential with recently added doublewides included in sale and 11 upgraded lots ready to rent. Park features large lots, paved streets with massive open-park-like green areas. Ideal location near several large lakes. Investor opportunity with high rental demand for large mobile home sites and for nice mobile homes and doublewides. Park is located between Orlando and Tampa. Park is near an airport, in a rural setting, with commercial and industrial areas not far away. Great opportunities to increase income by adding more homes and raising rents. Well maintained community water system, new additional well and recently improved septic systems. Electricity is individually metered to all lots. 11.6 plus or minus acres.

(NOTE: Financial Summary does NOT include rental income from 11 additional sites that are available to be rented at this time, plus 1 additional doublewide now being set up.)

Disclaimer: The information and (all files attached) have 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 advisors. You and your advisors 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 Doug E. Rhudy, his Agents 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.

Location

The address is NOT CORRECT. Please sign & return the attached c/a agreement to receive all financial information, pictures and the correct address of the park. Thank you!

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Park Information

Community Type: All Age
Number of MH Lots: 41
Size: 11 acre(s)

Financial Information (Actual)

Gross Income: $182,700
Operating Expense: $44,304
Net Operating Income: $138,396
Expense Ratio: 24.2 %

Utility Information

Water: Well
Sewer: Septic

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