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

  • Cap Rate: 8.0%
  • Listing ID: 665572
  • Posted On: May 13, 2016
  • Updated On: Mar 15, 2017

Description

Marcus & Millichap is pleased to present a 87 Site MHC located in Deland, Florida known as Applegate Estates. Of the 87 Sites, 80 are occupied with only one park owned home. Applegate Estates has well water and a sewer treatment plant that was recently upgraded. Tenants are responsible for both their water and sewer usage and the current rent is $355 per month. The community is in a great location, providing an easy commute to Orlando, which is less than 45 minutes away and by many major highways and shopping centers.

Applegate Estates is being offer for $3,350,000, $36,782 per site.

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Park Information

Community Type: All Age
Number of MH Lots: 87
Total Occupancy: 92.0 %
Year Built: 1970
Average MH Lot Rent: $355

Financial Information

Gross Income: $408,120
Operating Expense: $140,095
Net Operating Income: $268,025
Expense Ratio: 34.3 %

Lot Information

Singlewide Lots: 87

Utility Information

Water: Well
Sewer: Treatment Plant

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