Contact Information

Mobile Home Park Details

  • Price: $650,000
  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 12.0%
  • Property ID: 1088184
  • Posted On: May 31, 2019
  • Updated On: Jun 17, 2019

Property Description

18 unit mobile home park with 17 park owned and 1 vacant lot ready for 18th unit. The park sits on approx. 3 acres, divided into 3 parcels with paved entrance and roadways. Water and gas are supplied by the city/county with 1 water meter and individual gas meters along with individual electric meters. Park pays water and garbage (one dumpster) and units are on septic tanks (8 tanks total). It has a workshop with electricity and plenty space next to it for a travel trailer should you need an office on the premise. The park was appraised in Jan. 2018 at $630,000 .Since then I have upgraded and made improvements over $20,000 which i have added to the sale price. All deeds and titles are free and clear of any lien and is debt free. The park location is close to 5 schools, city bus stop, interstate 10 and shopping areas. Pensacola Beach is 20-30 minutes away. This is not a distress sale, the park isn't run down or in disarray. I really don't want to sell because it has provided me with a large cash flow so i could invest in and pursue other interest. I am selling because i want to semi-retire (i also have a small park with 7 units and 1 house to keep me from full retirement unless the purchaser wants to purchase both parks. The sale price on that park is $300,000 ) . The financial figures shown are from the appraisal. I have included a picture of the summary page from the appraisal for you to view.The appraisal has included expenses that an absentee owner would incur such as management fees. It also has a higher vacancy rate, my rent loss for 2018 was 1 unit for 3 months. I operate the park as a turn key operation with low overhead. My expenses that must be paid ( water, garbage, insurance, taxes etc. ) total $729.25 a month, $8875.05 a year. These amounts do not included repairs or maintenance costs. I want a cash sale but i will consider some owner financing with a LARGE down payment. Please note, if you want to come and see the park and you have the ability to purchase it then please call me (850-473-8180), I will help in anyway that i can. I have learned from experience anyone can click a button that says they are interested but their intent isn't clear with a one sentence question as i have no time for those just seeking information with no intent to purchase and they want you to send all the information you have to them. REALTORS, PLEASE DO NOT CONTACT ME WANTING A COMMISSION TO LIST OR SALE! I am a former real estate agent.... I know this may come across a little harsh to some, if so please except my apology, but those that are in my position know exactly where i am coming from when selling. I have posted some pictures and information that should help answer questions. I will update this listing week to week with more information as its needed, please note that i am kinda hard to get in touch with most of the time. I have had a great response to my ad with a ton of email. It will take longer for me to reply with an answer to your email than your phone call. Your best bet is to call me! I am available 10:00 AM-9:00 PM CST everyday. If you call and i am busy at that moment you will get my voicemail please leave a detailed message and also the best time to call you back. I will not respond to those who low ball, thank you

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Park Information

Community Type: All Age
Number of MH Lots: 18
Average MH Lot Rent: $550
Size: 3.0 acre(s)

Financial Information

Gross Income $112,200
Operating Expense $33,217
Net Operating Income $75,071
Expense Ratio 29.6 %
Debt Info No debt, deeds and titles clean

Lot Information

Singlewide Lots: 18

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 17

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