Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 10.0% (Actual)
- Listing ID: 427531
- Posted On: Mar 6, 2014
- Updated On: Oct 1, 2015
Description
SOLD! 21 Mobile home lots, 16 RV(Park Model),2 Lakefront Homes. The majority of all of these lots are fronting on canal, lake or have water views. Amenities: clubhouse, lakefront picnic areas with fish cleaning areas, nature island w/ cat walk. Majestic oaks throughout this park like tranquil setting. Rents have been below market for 5 years and only in 2014 did they get 1st small increase. Long 99% fully rented to same tenants over last 5 years. Note:some of RV lots have cottages which are shown/discounted to RV/Park Model lot rents to demonstrate upside of lowering expenses. Pre-approved bank financing with 25% down, 4.25 interest, amortized over 20 years(subject to buyer personal guarantee/good credit). Buy now as parks for sale in Florida are down to only 68 with 100's of parks SOLD!
Amenities
- Laundromat
- Storage
- Club House
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 21 |
| Total Occupancy: | 99.0 % |
| Average MH Lot Rent: | $365 |
| Size: | 14 acre(s) |
Financial Information (Actual)
| Gross Income: | $189,000 |
| Operating Expense: | $51,000 |
| Net Operating Income: | $138,000 |
| Expense Ratio: | 27.0 % |
Lot Information
| Singlewide Lots: | 21 |
| Park Model Lots: | 16 |
RV Information
| Number of RV Lots: | 16 |
| Average RV Lot Rent: | $390 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 1 |
| Average Rent for Park-owned Homes: | $365 |
