Contact Information

Dan Mulkey

Real Estate Broker

Mobile Home Park Details

  • Price: $2,650,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Property ID: 1416331
  • Posted On: Apr 1, 2021
  • Updated On: May 4, 2021

Property Description

Lutz Portfolio rests in the Lutz suburb of North Tampa in West central Florida and is part of the Tampa MSA within Hillsborough County. Lutz Portfolio is a well performing investment for an investor looking to acquire an asset in an area of sustained growth and robust demand for affordable housing. In its current operation, the portfolio has maintained a high-level of occupancy and is comprised of thirty-three park-owned rentals between two separate mobile home parks. Another advantage of this investment opportunity in terms of operations, is the proximity of just a couple of blocks between each park. The properties are to be sold in conjunction with one another as a portfolio sale.

Location

Residential neighborhood in North Tampa

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 100.0 %
Year Built: 1981
Average MH Lot Rent: $825
Size: 3 acre(s)

Financial Information (Actual)

Gross Income $312,925
Operating Expense $100,087
Net Operating Income $212,838
Expense Ratio 32.0 %
Debt Info N/A

Lot Information

Singlewide Lots: 33

RV Information

Number of RV Lots: 2
Average RV Lot Rent: $430

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 31
Average Rent for Park-owned Homes: $825

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