Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1368383
- Posted On: Dec 14, 2020
- Updated On: Jul 1, 2021
Description
Incredible Real Estate Opportunity Investment!
Lakefront Mobile Home Park in Kissimmee, FL with 34 spaces currently rented and generating an excellent income with an opportunity to increase NET Income and Cap Rate.
The land has 3.96 acres, surrounded by mature trees and boast a fishing pier on Fish Lake. This place provides an ideal climate and excellent quality of life for the residents.
Currently under the Acquisition of A Portion of The Property From The Florida Department of Transportation “FDOT”.
Eminent domain, or condemnation, is the power of the federal, state and local government to take private property.
Additionally, the Florida Constitution requires condemning authorities to provide landowners with “full compensation” in exchange for a taking.
“1501 G & H Dr., Kissimmee FL 34744” is currently under the representation of Papalas & Griffith “Florida Eminent Domain Lawyers. The condemning authority is required by law to pay for the cost of such services, in addition it pays you for the property.
They have performed an independent analysis of the eminent domain and its effect on the property. According to the lawyer’s, compensation will vary between $150,000 and $250,000.
Please Check Additional Information on document attached.
Location
This land is strategically located in an "Opportunity Zone" area cited by the U.S. Department of Treasury. These zones are designed to spur economic development and job creation in low-income communities. Qualified Opportunity Zone Funds attract investors through possible tax benefits. This guarantees a future with the possibility of redensification and there is a road expansion process already.
Only 1 minute from Florida’s Turnpike, State Road 91 (SR 91), 10 minutes from Downtown Kissimmee, 30 minutes from Downtown Orlando, 25 minutes from Orlando International Airport.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 34 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $365 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $150,000 |
| Operating Expense: | $31,676 |
| Net Operating Income: | $118,324 |
| Expense Ratio: | 21.1 % |
| Debt Info: | No Debt |
Lot Information
| Singlewide Lots: | 34 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
