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Mobile Home Park Details

  • Price: Call for Price
  • Property ID: 1591776
  • Posted On: Jan 26, 2022
  • Updated On: Aug 16, 2022

Property Description

https://estersonmhcteam.​com/property/shady-creek-mhp

Shady Creek MHP is a stabilized investment opportunity with upside.​ The park is well located in Starke, FL which is part of the Gainesville FL MSA (+6.2% growth since 2020).​ This park owned home community consists of 56 mobile home lots, 56 park owned homes (POH), 56 tenants, public utilities, and brand-new paved roads (Jan.​ 2022).​

Current occupancy is 100%.​ This suggests that the overall market can potentially support higher lot & POH rents based on limited affordable housing supply and growing demand in this market.​

The park has an on-site maintenance manager.​ Collections are strong.​ Utilities are all direct billed.​ Tenants are directly billed from the municipality for public water, sewer, and electric utility systems.​ All systems are in good working order.​ The privately maintained roads are freshly paved and in excellent condition.​ Taking all this in consideration, this investment is ideal for an absentee or long-distance owner.​

A small portion of the property is located in a flood zone.​ The park is NOT located in an opportunity zone.​ Achievable upside with possible POH to TOH conversion, expense reduction and revenue growth potential.​

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

Park Information

Community Type: All Age
Number of MH Lots: 56
Total Occupancy: 100.0 %
Size: 7 acre(s)

Financial Information (Actual)

Gross Income $394,006
Debt Info

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 56

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