Mobile Home Park Details
- Cap Rate: 6.4% (Actual)
- Listing ID: 1300804
- Posted On: Aug 4, 2020
- Updated On: Aug 6, 2020
Description
100Units.com presents Spring Lake Estates which is a 37 unit community, situated on 6.30 acres and built in 1965. This community consists of 30 mobile home sites (tenant owned mobile homes), 4 one bedroom one bath apartment units, 1 one
bedroom one bath single family house, 1 rental park owned mobile home, 1 clubhouse rental unit. The residents enjoy a community clubhouse, lake, and the location is in close proximity to shopping, jobs, and multiple highways. The community has a well water and septic tanks for the utilities (3rd party professionally operated). Value add opportunity by metering the electric to each apartment unit (cost of $4,000 for average of $250 monthly savings). More than 22,000 people moved to the Lakeland-Winter Haven metropolitan area in 2018 earning the metro the fourth spot on U.S. Census’s Top 10 Metropolitan Areas in Percentage Growth list.
Park Information
| Number of MH Lots: | 30 |
| Year Built: | 1965 |
| Size: | 6 acre(s) |
Financial Information (Actual)
| Gross Income: | $204,572 |
| Operating Expense: | $58,052 |
| Net Operating Income: | $146,520 |
| Expense Ratio: | 28.4 % |