Contact Information

Gerry Meeks
Florida Time Realty, Inc

Mobile Home Park Details

  • Price: $450,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.7%
  • Property ID: 1516199
  • Posted On: Sep 16, 2021
  • Updated On: May 10, 2022

Property Description

9 space MHP of which 7 POH spaces rented.
6 x 2 bed/2 bath
1 x 2 bed/ 1 bath
City water & 1 : 1 septic.
Two septic tanks are new, others recently emptied & inspected

1 new 2021 MH.
6 late model homes. (Park and homes are insured for both property casualty & liability.)

Recent rehabs to all the late model homes, brought all electric to 200 amp, tree removal and trimming done in 2020.
Owner has started skirting replacement where needed.
All units have had interior & exterior pest control.
All units have upgraded backflow preventers on water units.
Front fence and signage added in 2020

All tenants well qualified with active leases in place. All current.

Upside:
2 vacant lots. Weekly calls from prospective tenants
New owner could bill tenants for water usage & trash

Park currently pays for trash, water and septic.

NOT in flood zone
Park has current FL Health Operating permit, copy attached.

Tallahassee Stats: http://www.city-data.com/city/Tallahassee-Florida.html

Location

Inside Capital Loop Circle. 10 minutes to universities, colleges and Capital complex. Airport is approx. 5 minutes away.

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 9
Total Occupancy: 78.0 %
Year Built: 1994
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $53,100
Operating Expense $14,000
Net Operating Income $39,100
Expense Ratio 26.4 %
Debt Info n/a

Lot Information

Singlewide Lots: 9

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $0

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $632

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