Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 6.0% (Actual)
- Listing ID: 1489748
- Posted On: Aug 3, 2021
- Updated On: Jul 6, 2023
Description
14 space lakefront & Hwy 27 front Adult Mobile Home Park with 7 Unit Motel & office all on private street sloping down to majestic oaks over shoreline of Lake Josephine(2,200 acre bass fishing lake) Sebring, FL. Owner Financing 1st Mtg with $500,000 Down 6% interest 20 yr amort. 3yr balloon. Rent roll:Lot#1:Owned MH/Lt @$1,500/m;Lots 2-11 @$380/m;Lakefront lots:Lt 12@400/m Lt 13@$450/m;Lt#14 is Vacant;Hotel units 1-6@$700/m & unit#7@$800/m making PGI of $133,800/EGI $116,000/NOI $78k 67%. Ideal property to enjoy lakefront living while running you own income property. Beautifully managed & easy to operate! Come see why everyone is escaping cities to enjoy these type properties. All buyer's must sign a confidentiality agreement prior to receiving financials or any showings.
Location
US 27 south from Sebring to Highlander Motel on right.
Amenities
- Laundromat
- Storage
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 13 |
| Total Occupancy: | 98.0 % |
| Average MH Lot Rent: | $386 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $116,000 |
| Operating Expense: | $50,000 |
| Net Operating Income: | $68,000 |
| Expense Ratio: | 43.1 % |
Lot Information
| Singlewide Lots: | 14 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $1,500 |
