Contact Information

Mobile Home Park Details

  • Price: $1,450,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 11.0%
  • Property ID: 665571
  • Posted on May 13, 2016

Property Description

MOBILE HOME PARK~~FOR SALE
FAMILY MHP ~ 52 SITES ~ Putnam County, Palatka, Florida
WATERFRONT PARK ~ PRINCIPALS ONLY
REDUCED ASKING PRICE ~ $1,450,000
SELLER SAYS SELL ~ UPDATED ~ INCREASED REVENUES and MODERATE EXPENSES
BANK FINANCING AVAILABLE TO QUALIFIED BUYER with 25% to 35% DOWN!

Please sign & return the attached c/a agreement (before the disclaimer below) to receive all financial information, pictures and the correct address of the park. Thank you!

This 52 rental site Park has great upside revenue potential, including 4 plus or minus undeveloped waterfront acres for potential future development (with county approval). Park has good mix of long term tenants including tenant-owned homes (lot rents only), and leased park-owned homes and vacant park-owned mobile homes ready to be remodeled. Park has 33 long-term rentals, 38 Park owned mobile homes and 6 Tenant owned homes plus waterfront house used for Apartment and Maintenance Area. Great upside rental potential with 12 vacant Park owned MH’s ready to be remodeled and 8 vacant lots ready to rent. Park features large lots, massive open-park-like lake front property. Great Investor opportunity with a seasoned Manager and Maintenance man in place that will work for new owner.

Opportunity to increase income by adding more homes, selling existing Park Owned homes, renting vacant mobile homes and lots, raising rents and by adding a Laundry in the Apartment/Maintenance Building.

Quality maintained community water system and package sewage treatment system. Electricity and water/sewer are individually metered to each site and each tenant pays their own utilities, water and sewer bills.

12.17 plus or minus TOTAL acres.

Park is generating annual revenue of over $175,000 per year; and is capable annual revenue of over $250,000 per year.

Annual Revenue ~ $223,020 including newly remodeled homes, projected as of September 2018.

Cap Rate ~ Projected to be over 10.5 % ~ (with management and maintenance personnel included)

We look forward to hearing from you!
Warm regards,
Doug

Location

The address IS NOT correct. Please sign the attached C/A agreement to receive the correct address and financial information on this MH Park opportunity!

Disclaimer: The information and (all files attached) have been obtained from the Seller and other sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Information contained herein is deemed reliable, however, is not warranted by Doug E. Rhudy, his Agents, Webster Properties, or Wm. Robert Webster Inc., A Real Estate Corporation. All offerings are subject to availability, errors, 2nd party information, change in terms and conditions without further notice.

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Park Information

Community Type: All Age
Number of MH Lots: 52
Size: 12.2 acre(s)

Utility Information

Sewer: Septic

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