Contact Information

Elizabeth Hennessy

Mobile Home Park Details

  • Price: $2,000,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.1%
  • Listing ID: 6082130
  • Posted On: Jun 4, 2024
  • Updated On: Jun 11, 2024

Description

Located on Fieldstone in Marianna, Florida, this Mobile Home Park presents an excellent investment opportunity with remarkable upside potential. Situated on a spacious 9-acre parcel, the property offers ample room for expansion and growth. Whether you’re a sole proprietor or an institutional investor, this park promises stable returns and long-term value. The current rental history is impressive, with eager tenants waiting to move in. At full occupancy, the net cash flows reach approximately $12,100 per month. With a hands-on approach to tenant selection, occupancy remains consistently high despite strong demand.

The retiring owner is motivated to sell and seeks an all-cash buyer. This straightforward transaction ensures a smooth transfer of ownership. The property will be sold “as is,” providing an opportunity for investors to add value and maximize returns. With no owner financing involved, the focus is on securing a qualified buyer who recognizes the potential of this well-established mobile home park.

The park’s utilities are well-maintained and efficient. Currently, water usage charges are included in the rent, but savvy investors can explore additional income by adjusting this model. The property operates on a reliable two-well system, and sewerage services are managed by the city with two exits. Regular inspections and testing of the well and treatment plant ensure compliance with health and environmental standards. All necessary permits are up to date, providing peace of mind for investors. The park spans 9 acres, with approximately 7 acres dedicated to mobile home pads and units, reflecting the strong demand for rental housing in the area1

Location

OR 284 P 711 OR 380 P 405 OR 392 P 822 OR 444 P 493 OR 452 P 191 OR 498 P 435 OR 581 P 112 OR 679 P 221 OR 959 P 785,786 OR 1165 P 387

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Park Information

Number of MH Lots: 19
Total Occupancy: 100.0 %
Year Built: 1992
Average MH Lot Rent: $687
Size: 9 acre(s)

Financial Information (Actual)

Gross Income: $133,100
Operating Expense: $11,739
Net Operating Income: $121,361
Expense Ratio: 8.8 %
Debt Info: This is according to the seller and is missing tax records.

Utility Information

Water: Well
Water Paid By: Tenant - Individual Service
Sewer: City

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