The requested property is removed. Here are active Mobile Home Parks for Sale in Stoke City, Florida
EA Front Gate
EA Front Gate
EA Front Gate
EA Front Gate
EA People Gate
EA People Gate
EA MHs Painted Ext
EA MHs Painted Ext
EA Driveway
EA Driveway
EA#3 LvngRm
EA#3 LvngRm
EA#19 Lvng Rm
EA#19 Lvng Rm
EA#19 Bdrm
EA#19 Bdrm
EA MH Interior
EA MH Interior
EA MH Interior
EA MH Interior
EA Front Gate
EA Front Gate
EA People Gate
EA MHs Painted Ext
EA Driveway
EA#3 LvngRm
EA#19 Lvng Rm
EA#19 Bdrm
EA MH Interior
EA MH Interior

Mobile Home Park Details

  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 11.5% (Pro Forma)
  • Listing ID: 427800
  • Posted On: Sep 29, 2015
  • Updated On: Sep 21, 2016

Description

74 space, gated, fully fenced, coded entry, Mobile Home park on 8.4 ac MOL w/ 22 Park Owned MHs w/ ~136 Planned Self-Storage unit potential. Municipal Water, Sewer , Phone, Cable, Electric and Gas onsite, paved city streets and paved driveways. Terrific income property with pot. gross inc. of $500K+ /year if Self-Storage is built out, otherwise ~$435K/year w/park only, pro forma. New owner of ~2 yrs has done most of the "heavy lifting" already, they put $550K into grounds cleanup, perimeter fencing, coded access gate, park infrastructure, MH renovations, and tenant base improvements, is ready to sell for a profit. Located in prime commercial/ transition neighborhood offering employment and services. Easy access to shopping, medical, entertainment, bus lines. 1/2 block to new N/S freeway, currently under construction and expected to increase local property values. Buyer will need to complete some MH renovations. Worth your time to take a look at this offering. ~$700,000 (4.00%) Note is assumable with Note Holder's approval. Lot sizes are estimated, buyer to confirm # of lots that are double vs single vs triple.

Location

The Park is well situated in a transition neighborhood with light industrial, commercial and some residential parcels located within ½ mile of the soon to be completed and highly desired North/South freeway. The addition of the North/South freeway is expected to increase property values in the
neighboring areas. Up and coming neighborhood with investment $$s pouring in.

Amenities

  • Storage
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Financial Information (Pro Forma)

Gross Income: $429,720
Operating Expense: $146,241
Net Operating Income: $264,033
Expense Ratio: 34.0 %

RV Information

Average RV Lot Rent: $350

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 22
Average Rent for Park-owned Homes: $695