Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 7.2%
  • Property ID: 1362737
  • Posted On: Dec 2, 2020
  • Updated On: Jan 27, 2021

Property Description

RV Park. Lake Okeechobee. Senior 55 Plus. 51 Lots plus One Cabin. 43 Year Round Tenant Owned Rentals. Cabin and two homes are park owned and rented year round. Remaining 6 lots rented on a monthly basis. Park is at capacity in season. Clean and quiet. Convenient location. Common Get together Recreation Club House. Clean Fish room. Laundry Area. Clean rest rooms and showers. Water, sewer and trash included. Electric is sub metered and billed back. Municipal Water and Septic. Boat ramp in the park. Stable investment. Opportunity to increase lot rent in future years. Year Round Tenants Pay a flat rate either once or twice a year. This makes for easy Lot Rent Collection. Bass Pro Shops is planning on opening a Campground and Resort with lodge very close to the property. Priced at 7.7% CAP Rate. Seller will consider financing with 50% down payment.

Location

Lake Okeechobee.
Brian Zoberg, Licensed Real Estate Broker

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Park Information

Number of MH Lots: 52
Total Occupancy: 100.0 %
Year Built: 1980
Size: 3 acre(s)

Financial Information (Pro Forma)

Gross Income $144,293
Operating Expense $69,609
Net Operating Income $74,684
Expense Ratio 48.2 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

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