Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.6% (Actual)
- Listing ID: 1179681
- Posted On: Jan 14, 2020
- Updated On: Jun 9, 2020
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.
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 |
