Mobile Home Park Details

  • Purchase Method: Cash, Assumable Loan
  • Cap Rate: 14.0%
  • Property ID: 1315244
  • Posted On: Aug 30, 2020
  • Updated On: Nov 30, 2020

Property Description

18 units, owned by the park, means top income. 95% occupied, 95% of the year, no marketing dollars needed as the location and employment opportunities are perfect. Park has a marina that fronts a small bay area with the Lock that lifts boats from Lake Griffin to Lake Eustis. This water way is known as the North Chain of Lakes, from this marina you can travel to the Jacksonville inlet to the ocean.
Park has all major capital improvements done. Park is an easy business to run as owner occupied or with a manager.

Location

Central Florida on the North Chain of Lakes, fronting major through fairway, easy out to downtown Orlando, south Florida, all major highways.

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 18
Total Occupancy: 95.0 %
Year Built: 1967
Average MH Lot Rent: $1,073
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $261,312
Operating Expense $42,100
Net Operating Income $209,212
Expense Ratio 16.1 %
Debt Info

Lot Information

Singlewide Lots: 16
Doublewide Lots: 0
Triplewide Lots: 0

RV Information

Number of RV Lots: 3
Average RV Lot Rent: $575

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 14
Average Rent for Park-owned Homes: $1,073

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