Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 14.6%
  • Property ID: 1323728
  • Posted On: Sep 15, 2020
  • Updated On: Feb 17, 2021

Property Description

1.5 acres +\- Commercial Property & Mobile Home Park, zoned C2, located on high traffic N.O.B.T (Hwy 441) in Orlando, Florida. (By appointment only. Please do not contact tenants as Seller would like to keep sale confidential )

The property includes 24 park owned rentals, 19 park mobile homes(18 rented & 1 used as storage), 2 RV(rented),
1 Cottage(rented), 2100 sq. ft. Commercial Building (771 sq. ft. rented, 1329 Sq. ft. vacant), also a laundry building (not open now), plus an additional income from the billboard sign rent.

This area is growing fast with new developments and only minutes to downtown Orlando.
The property is a great investment opportunity for the land alone, plus its a great money maker now, with a gross income last year of $152,187 & NOI of $132,206, with potential to increase the income by updating the rent (many are below market), remodeling & renting 1 mobile home that is used for storage, remodeling & opening laundry and renting additional commercial building space.

Location

Located on High Traffic, N. Orange Blossom Trail (Hwy 441), across Hwy from Lake Fairview and just minutes to downtown Orlando & The Citrus Bowl Complex and close to all Central Florida Attractions.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 21
Total Occupancy: 100.0 %
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $152,187
Operating Expense $19,981
Net Operating Income $132,206
Expense Ratio 13.1 %
Debt Info Non

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: Septic

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