Contact Information

Mobile Home Park Details

  • Price: $1,650,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 9.6%
  • Property ID: 1179681
  • Posted On: Jan 14, 2020
  • Updated On: Feb 21, 2020

Property Description

The area boasts historically high occupancy rates as a direct result of the strong rental market for affordable housing in the immediate area. The park has high appeal since most of the homes are new, are large enough for families and can thus capture higher rental rates. The community offers a good opportunity for an existing owner-operator or for an entry level investor to acquire a fully-leased and stabilized investment.

Location

Located on Symmes Road in Gibsonton on Tampa's east side this park consists of 14 park owned rental homes (11 are new homes). It is near one of the fastest growing employment hubs within Hillsborough County. Symmes Road is among several East/West arteries in Gibsonton allowing easy access to US-41 and Interstate 75. The park is near several of the area's growing employment centers including the Amazon Fulfillment Center, TECO, Mosaic, the Port of Tampa and several others. Shopping, restaurants, and schools are nearby.

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Park Information

Community Type: All Age
Number of MH Lots: 14
Total Occupancy: 100.0 %
Year Built: 1977
Average MH Lot Rent: $1,300
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $207,480
Operating Expense $49,370
Net Operating Income $158,110
Expense Ratio 23.8 %
Debt Info Free and Clear

Lot Information

Singlewide Lots: 13
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $1,300

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