Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Property ID: 1105258
  • Posted On: Jul 11, 2019
  • Updated On: Oct 15, 2019

Property Description

HUGE VALUE ADD POTENTIAL! This property offers amazing upside to future buyers. The property features 32 mobile home lots and 9 permanent structure rental units. Presently 8 of the 32 mobile home lots are occupied with tenant owned homes paying $350/month in lot rent (market lot rent is $450/month). 7 of the 9 permanent structures are occupied as well. The property currently generates $6,000/month in revenue. All mobile home lots and structures and separately metered with city utilities paid for by the tenants. By filling the empty mobile home lots and repairing the 2 remaining structures the next owner has potential to more than double the property's value. Property is managed by a third party professional management company at a 5% of gross revenue expense. This property can be purchased as a package with another nearby park known as "Bob Little Park".

This park was 100% occupied with tenant owned mobile homes prior to Hurricane Michael. Bay County, FL is experiencing a housing shortage with a very high demand for housing due to the Hurricane. The next owner will have no problem with vacancy once filled back up.

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Park Information

Community Type: All Age
Number of MH Lots: 32
Year Built: 1998
Average MH Lot Rent: $350
Size: 5 acre(s)

Lot Information

Singlewide Lots: 32

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0

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