Contact Information

Mobile Home Park Details

  • Price: $1,070,000
  • Cap Rate: 8.0%
  • Property ID: 1929536
  • Posted On: Nov 8, 2022
  • Updated On: Jan 12, 2023

Property Description

Listing Broker: Ryan Ramseur
Contact Ryan Ramseur : +1-678-932-0200

DEFUNIAK SPRINGS, FL -H & H Mobile Home Park is in Walton County, located near the coast on the Florida Panhandle. The city of Defuniak Springs has been referred to as the “best small town in Florida” as recently as 2019, and is only 40 minutes to some of Florida’s most desired and attractive white sand beaches including Miramar Beach, Destin, Seaside, Pensacola and Fort Walton Beach, FL. An area known for tourism and vacationers, the panhandle has seen tremendous growth and development over the last 10 years.

H & H Mobile Home Park is a relatively small park inclusive of 16 Park-Owned Homes (POH), making it an ideal size to operate independently or remotely under new ownership. Each home is on a ½ acre lot, and the homes range in age from the 1980’s – 1990’s and are in good condition with current ownership making repairs on an them on an as-needed basis. All tenants are on month-to-month leases, allowing new ownership flexibility for incremental rent increases over time. Most of the tenants are well established and have been residents in the park for multiple years with a strong labor background. Current rental analysis suggests total rents could increase to $1,000 ± per month.

Tenants and ownership both benefit from city water and sewer, which is directly-billed to tenants. The park has a lift station, which ownership maintains and utilizes a licensed maintenance person for all work in the park. All homes are individually metered for electric and directly-billed to tenants. Tenants are responsible for their own garbage removal and landscaping, however, the park pays for common area landscaping. The east side driveway is made up of crushed gravel millings and is a county-maintained road. The west side driveway is made up of crushed rock, and is park-maintained and in good condition. Total rent collections for 2021 were $137,575, allowing new ownership immediate cash flow.

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Park Information

Number of MH Lots: 16
Total Occupancy: 100.0 %
Size: 9 acre(s)

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 16

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