Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing
  • Listing ID: 1907963
  • Posted On: Oct 12, 2022
  • Updated On: Jan 24, 2023

Description

One park is in St. Augustine 8 spaces, and the other is in Palatka 30 miles away, 15 spaces. 23 space total within 30 minutes of each other. Great cash flow, low maintenance, high demand rental area.

Tangle Tree is in Palatka, FL. It is 30 miles west neighboring city. St. Augustine (St. Johns County) has become so expensive (richest county in Florida) that many have and are moving to Putnam County/Palatka. this is a pretty simple park to run and no need for a manager. The tenants are trained to make deposits at the bank around the corner and never late.
Literally nothing to do.
Email for a summary and attached for October P&L for Tangle tree in Palatka.

Below are the basics for the TangleTree 15 space, lot rent MHP.
> Well and septic well maintained
> Water treatment $200.00 includes quarterly testing, etc.
> Landscaping $475.00
> Clay Electric $100.00 for house light and well pump
> Insurance $85.00 GL
> Property Taxes $300.0
> Trash $140.00

> Total Income $6375.00 (New leases starts December 1st with all 15 @ 425)
> New leases are long term 3-5 year and includes provision to raise rent each year no limit.
> Also provision to roll over utilities, taxes in lease, etc.

Southpark Village 5960 US 1 South, St. Augustine, FL 32086

8 spaces, park owned renovated homes
city water and sewer direct billed to tenant from utility dept.
I think the gross is about $8500 per month + and still below market rents. One older tenant’s rent has not been raised that much over the years.
General expenses:
Yard 300
Trash 120
Maintenance man 300
Electric house account 30
GL policy including wind/property/homes $350

It’s a small park eight spaces but it is cash cow and rents are still under value. It grosses about $8500 a month ($102k) and expenses are around $1000 I believe. All are Park owned homes and it is always 100% occupied and I could have a waiting list of 50+ people if I wanted to. St Johns County is now the richest county in the state of Florida so $1200 for a two bedroom one bath mobile home if it’s nice it’s a steel!

Total of 23 spaces between the two parks.

Location

Southpark-5960 US-1 South, St. Augustine, FL 32086
Tangle tree- 3305 Cobalt Street, Palatka, FL 32177

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Park Information

Community Type: 55 And Over
Number of MH Lots: 23
Total Occupancy: 100.0 %

Financial Information (Actual)

Gross Income: $16,000
Operating Expense: $0
Net Operating Income: $0

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