Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 11.0% (Actual)
- Listing ID: 5531006
- Posted On: May 3, 2024
- Updated On: Nov 1, 2024
Description
These two well-established MHP’s are located about an hour from each other, making them easily manageable for the new owner. The owner has spent over $120,000 on renovations to include resealing the roofs of the units in both parks, and new septic tanks and a drain field for the Lake City Park.
Combined Parks include:
• 5.17-Acres MOL
• 21-Spaces & 21 MH Units
• Well & Septic (2 new tanks/drain field installed April 2024)
• 3-Storage Spaces (Possible Expansion – Ocala MHP)
• Concrete Laundry Building (Ocala MHP)
• On-Site Maintenance
• Current Occupancy: 100%
• Current Gross Revenue: $268,320
• Current NOI: $211,516
• Tenants on month-to-month arrangement
Seller Financing: Seller Financing Available to Qualified Purchaser, that may include:
• 5%-6% Interest Rate
• Interest Only or Amortized
• 5-10-Year Balloon
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 21 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $1,150 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $268,520 |
| Operating Expense: | $56,804 |
| Net Operating Income: | $211,516 |
| Expense Ratio: | 21.2 % |
Lot Information
| Singlewide Lots: | 21 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
Park-Owned Homes
| Number of Park-owned Homes: | 21 |
| Average Rent for Park-owned Homes: | $1,150 |
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