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
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Multi Family Housing
Photo of Multi Family Housing
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 Multi Family Housing

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 13.8%
  • Listing ID: 842372
  • Posted On: Aug 7, 2017
  • Updated On: Dec 22, 2017

Description

This park is an all age community situated in a quiet neighborhood on SE 21st Street just west of I75 off of College Avenue (Rte. 674). The park consists of 35 mobile home sites and 3 apartments. The homes are park owned units. Currently 30 sites produce monthly rental. Additionally, there are 2 homes in the final stages of renovation and close to being “rent ready”.

Location

Located a couple miles off of I75 about 30 minutes from downtown Tampa, Ruskin is easily accessible via the Rt41, the Selmon Expressway and I75. Local shopping is plentiful and the Brandon Mall is just 15 or so miles north on I75. Known well for the “Ruskin tomatos” and the tomato industry the town has grown as a Tampa suburb from about 9,500 people in 2000 and in 2014 the population was nearly 20,000. By 2019 the population is expected reach over 23,000.

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Park Information

Community Type: All Age
Number of MH Lots: 35
Total Occupancy: 86.0 %
Year Built: 1958
Average MH Lot Rent: $771
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income: $277,365
Operating Expense: $113,511
Net Operating Income: $163,854
Expense Ratio: 40.9 %
Debt Info: 75% LTV, 5%, 25 yeras

Lot Information

Singlewide Lots: 32
Doublewide Lots: 3

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 35
Average Rent for Park-owned Homes: $771

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