Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 1980214
- Posted On: Jan 5, 2023
- Updated On: Feb 6, 2024
Description
-City water & city Sewer!
-Metro of 170,000 & Growing!
-Currently managed remotely!
-Value-add opportunities present!
Fort Walton Beach MHP is a smaller community located in Fort Walton Beach, FL. The park was established in 1965 and is comprised of eight pads and a SFR. The total size of the park is approximately 1.21 acres. The park is zoning compliant (suburban residential) and is not located in a flood zone. The park is currently managed by an out of state investor. The tenants currently pay rent via e-check or credit card. The park currently has 7 occupied POH, 1 occupied SFR, and 1 vacant POH that needs to be removed. The average rent is currently $900 per month. Tenants currently pay for their own electricity, & garbage will also be their responsibility starting on April 1st, 2023. The park is currently paying for water so this park might be a good candidate for RUBS or meters. Tenants are on leases.
City water & city sewer!!! The roads through the park are currently gravel and they are in good shape. The material of the water & sewer pipes is unknown. The size of the electrical pedestals is unknown. The tenants mow their own space. Park mows common areas. Currently none of the tenants are behind in their rent. None of the POH have titles but will transfer via bill of sale. None of the trailers are behind in property tax payments.
***Edit***
Unit B recently vacated. The seller had well over 100 inquiries for the one trailer. He recently learned that other POH's in FWB are renting for as high as $1,400/month. We have adjusted the market rent in the Pro Forma to $1,200/month due to the demand for housing at the present time.
The seller will consider seller carrying 20% of the purchase price for 5-years at 6.5% interest.
Jonathan Fisher is a licensed real estate broker in the State of Florida under license #BK3489532.
Location
Fort Walton Beach is a city in southern Okaloosa County, Florida. As of the 2020 U.S. census, the population was 20,922, up from 19,507 in 2010. It is the principal city of the Fort Walton BeachCrestview-Destin Metropolitan Statistical Area. Fort Walton Beach is a year-round fishing and beach resort community. Its busiest time of the year is the summer, causing a boost to the local economy because of seasonal human migration.
Okaloosa County, FL has a nice mixture of both public & private sector employment options for its residents. Here is the list of the largest employers locally to Fort Walton Beach & Okaloosa County, FL:
•Okaloosa County School District (3,294 employees) Education (Public)
•Fort Walton Beach Medical Center (1,341 employees) Medical (Private)
•Publix (1,092 employees) Retail (Private)
•Okaloosa County BCC (955 employees) County Government (Public)
•Lockheed Martin (925 employees) Defense Contractor (Private)
•Reliance Test & Technology (721 employees) Government Contractor (Private)
•Northwest Florida State College (717 employees) Education (Public)
•North Okaloosa Medical Center (609 employees) Medical (Private)
•Boeing (500 employees) Aerospace & Defense Contractor (Private)
•Okaloosa County Sherriff's Office (461 employees) County Government (Public)
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 8 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1965 |
| Size: | 1 acre(s) |
Lot Information
| Singlewide Lots: | 8 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $800 |
