Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Listing ID: 3678229
  • Posted On: Sep 12, 2023
  • Updated On: Nov 24, 2023


Spring Oaks MHP has 9 lots with 7 POH's & 2 empty lots and 1 home currently in repairs.

Added One 2bed/2bath NEW home in 2021
Replaced two septic systems 20021-2022
The remaining homes w/septic's have been drained & inspected.
Replaced all the electric meters, all are now up to date.
Replaced skirting on lot #1
All the stairs have been repaired or replaced.
All the homes have undergone between $2500-$5000 in renovations
All the roofs have been sealed
Homes are power washed yearly
As needed we replaced refrigerators, stoves and hot water heaters
Park has a Phase 1 environmental report on file
Park has a Elevation certificate on file
Park has a Health permit on file
Park has General Liability Coverage
All the tenants are current on their rent
All the tenants were screened and have 1 yr leases.
Current monthly Rent is $4,025.00
Current Fixed & Variable monthly expense - $1,421.58
Maintenance man lives in the park
Easy to manage from another state if need be.
2 empty pads ready - new homes rent for $775- $850 per month

Why Tallahassee- Large government, University and Health workforce (tenants)

***The income & expenses listed above are the current and actual numbers as of 9/2023


Park Electric/Water...... 220.00
Waste Pro 351.50
Park Mowing 200.00
Google 15.00

Variable Costs

Electric Vacant 30.00 Lot 3
Repairs/materials 250.00

Misc. Costs Yearly Costs

Park Insurance 192.5 ........ 2310
Property Tax 141.75 ........ 1701
Corp Filing 12.5 .......... 150
Health Permit 8.33 ......... 100

Monthly Totals 1,421.58


Park is located north of Capital Circle SW, east of the Tallahassee International Airport & south of the colleges.

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Park Information

Community Type: All Age
Number of MH Lots: 9
Total Occupancy: 70.0 %
Average MH Lot Rent: $650
Size: 2 acre(s)

Financial Information (Actual)

Gross Income: $48,300
Operating Expense: $17,058
Net Operating Income: $31,241
Expense Ratio: 35.3 %

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: $650

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