Contact Information

Mobile Home Park Details

  • Price: $975,000
  • Purchase Method: Cash
  • Cap Rate: 10.2%
  • Property ID: 1455814
  • Posted On: Jun 10, 2021
  • Updated On: Jun 14, 2021

Property Description

29 Unit Mobile home park on busy main road, located in Ocala. Many new homes and businesses being built on this road due to Amazon center recently located near this park. The mechanical systems are up to date, and all inspections have passed. 4 septic systems and macerator pumps as well drain fields are all good. The well has all newer equipment and controlled by federal reporting company on behalf of current owner, all reports are up to date and submitted. Park has 21 units rented and there are 7 vacant sites. The park owns all Park model trailers and Mobile homes. Based on sale price the gross cap rate is over 14%.
See attached P&L accurate as of 6/12/2021

Location

4 miles north east of downtown Ocala
SEC 25 TWP 14 RGE 21
COM 303.06 FT S OF NW COR OF SE1/4 OF SW1/4 TH S 282.15
FT S88-06E 712.8 FT MOL TO WLY ROW OF US HWY 441 SAID PT
BEING 33 FT FROM CL OF HWY MEASURED AT RIGHT ANGLES TO CL
TH N32-23-15W ALONG ROW 337.35 FT N87-44-50W 532.2 FT
MOL TO POB

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Park Information

Number of MH Lots: 29
Total Occupancy: 95.0 %
Year Built: 1974
Average MH Lot Rent: $750
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $11,070
Operating Expense $2,749
Net Operating Income $8,321
Expense Ratio 24.8 %
Debt Info see attached P&L

Lot Information

Triplewide Lots: 0

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 21
Average Rent for Park-owned Homes: $600

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