Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 11.0% (Actual)
- Listing ID: 441735
- Posted On: Feb 26, 2015
- Updated On: Jun 9, 2015
Description
Pristine +55 Community. 68 Space Mobile Home Park located on US 41 just north of HWY 54. This is a beautiful lake front senior community. This property is in position to be a cash flow king from your first day of ownership with little to no maintenance. It is currently a nice mixture of 49 home owners paying $320-$330 per month lot rent (under market by $100, plenty of room for yearly increases per market comparables), and 16 park owned rentals that are always occupied with good tenants. This is a quiet, safe, 55+ community with good people and no drugs. This is not a transient type community. The people living in our community are permanent residents. Demand for a safe place for seniors to live in Florida is through the roof. Demographics should support this demand for many years to come. The park's monthly gross income fluctuates around $28,000 a month. Expenses fluctuate around $9000 a month. Get your cash out of banks earning 0% interest and start making money today. Get paid to hold a nice commercial track of land right on US 41 (Land O' Lakes Blvd). City Sewer/Water hookups available.
I left out the exact address because I do not want people driving through the community telling my tenants about the potential property sale. Please contact me first by phone for more details. Thank you.
Amenities
- Laundromat
- Club House
- Handicap Accessible
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 68 |
| Total Occupancy: | 98.0 % |
| Average MH Lot Rent: | $330 |
| Size: | 11 acre(s) |
Financial Information (Actual)
| Gross Income: | $330,000 |
| Operating Expense: | $99,000 |
| Net Operating Income: | $231,000 |
| Expense Ratio: | 30.0 % |
Lot Information
| Singlewide Lots: | 28 |
| Doublewide Lots: | 5 |
RV Information
| Number of RV Lots: | 35 |
| Average RV Lot Rent: | $320 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 16 |
| Average Rent for Park-owned Homes: | $575 |