Contact Information

Mobile Home Park Details

  • Price: $895,000
  • Purchase Method: Cash
  • Cap Rate: 10.0%
  • Property ID: 1142536
  • Posted On: Oct 8, 2019
  • Updated On: Oct 15, 2019

Property Description

Seller is out of town until Oct. 21, and will respond to all inquiries at that time. (34) lot park situated on 3.4 acres, within one mile from Super-Walmart and close proximity to Eastern Shipbuilding, Tyndall Air Force Base and other major employers. This park has 34 large lots with pads and driveways, city water and sewer & electricity for each lot paid by tenants. There are 12 park owned homes and 19 tenant/Fema owned homes. Great opportunity with a very high demanding rental market. Seller is a current Florida real estate licensee.

Location

Located on east side of Bay County Florida, close to major shopping centers, Tyndall Air Force Base, Eastern Ship Building and Papermill.

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Park Information

Community Type: All Age
Number of MH Lots: 34
Total Occupancy: 90.0 %
Year Built: 1990
Average MH Lot Rent: $300
Size: 3.4 acre(s)

Financial Information (Actual)

Gross Income $150,000
Operating Expense $60,000
Net Operating Income $90,000
Expense Ratio 40.0 %
Debt Info

Lot Information

Singlewide Lots: 33
Doublewide Lots: 1

RV Information

Average RV Lot Rent: $300

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 12
Average Rent for Park-owned Homes: $700

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