Contact Information

Mobile Home Park Details

  • Price: $2,000,000
  • Purchase Method: Cash, New Loan
  • Property ID: 1455820
  • Posted On: Jun 10, 2021
  • Updated On: Jun 10, 2021

Property Description

All Age Community located in fast growing east Orlando. The Park consists of a heavily wooded area of approximately +/- 1.5 acres, running for well over 30 years. New permits for MHP are not being granted in Orlando, so this is your opportunity to get in on the action!
25 lots and a single family house (3/1) in the front.
Park has been fully functional for over 30 years with most tenants owning their units. On the higher end of lot rent scale in the neighborhood, the Park attracts a lot of young families where parents feel comfortable bringing their children. No drugs, no rift raft and minimal problems.
Potential for growth and expansion on land. Rent numbers will continue to rise and tenants are prepared to pay in order to keep peace and quiet.
Area has grown exponentially in the last 5 years with UCF reaching top University in the USA (10ms away). With zoning in place you can transform Park into tiny homes or container homes.
No code violations. All units in place are tenant owned, except 3 which are Park owned. Occupancy loss is based on 3 empty lots with no units.

Location

East Orlando

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Park Information

Community Type: All Age
Number of MH Lots: 25
Total Occupancy: 90.0 %
Year Built: 1986
Average MH Lot Rent: $750
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income $220,800
Operating Expense $30,000
Net Operating Income $190,800
Expense Ratio 13.6 %
Debt Info mortgage in place

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

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