Mobile Home Park Details

  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 12.0%
  • Listing ID: 1436391
  • Posted On: May 10, 2021
  • Updated On: Aug 12, 2021

Description

Both Parks are right down the block from each other and are under the same management and Park is Ran Absentee. There are a total of 30 lots, 29 of them have homes on them. All 29 units are park owned. Both have Septic that have all recently been serviced, one is on well, the other on city water. The price is at a 12 cap and once parks are stabilized it will be at 15-17 cap. no seller financing available. Park names are Sandys (2.48 acres) and Whispering waters way (2.9 Acres)

Location

Excellent location minutes away from Walmart Super-center and the I-75, also close to MacDill Air Force Base, hospitals, airport. Home of the 2021 Super Bowl winners and this area is exploding in growth and rentals fill up instantly.

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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 77.0 %
Year Built: 1970
Average MH Lot Rent: $900
Size: 5 acre(s)

Financial Information (Pro Forma)

Gross Income: $256,200
Operating Expense: $77,070
Net Operating Income: $179,130
Expense Ratio: 30.1 %
Debt Info: Center State bank

Lot Information

Singlewide Lots: 30

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 29
Average Rent for Park-owned Homes: $900

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