Contact Information

Mobile Home Park Details

  • Price: $4,100,000
  • Cap Rate: 6.5%
  • Listing ID: 6913984
  • Posted On: Jun 9, 2025
  • Updated On: Jun 9, 2025

Description

ComReal is pleased to exclusively present the opportunity to acquire Lake Harper Villas MHC in Lake City, FL. This lakefront community consists of 69 units and is 98% occupied with a single rehab underway which will be complete and rented at closing. Lake City is known as the “Gateway to Florida” and the community is ideally located in a suburban setting with immediate access to downtown Lake City as well as I-75 and I-10, two of the largest travel corridors in Florida. Lake Harper has been under the same ownership and management for nearly 20 years and the operator has carefully vetted the current tenant base while maintaining the property with below market lot rents of $395/month. When vacancies do occur, the units are immediately rehabbed and backfilled with a flood of prospective tenants to select from. The unit mix is a combination of well maintained single and double wide homes situated on large lots with 22 park owned homes and 47 tenant owned homes on direct billed city utilities.

Location

Lake City is experiencing some of the fastest population growth in Florida due to its business friendly climate, tax benefits and location at the intersection of I-75 and I-10. The City offers excellent connectivity between the major cities of Jacksonville and Tallahassee resulting in growing logistics and business operations as well as the service industries that support them. Major employers include Advent Health, UF Health, HAECO Aviation Services, Packaging Corp of America, Steel Dynamics, and Frito-Lay. Demand for affordable housing has never been higher in the area and Lake Harper Villas MHC is a well-positioned asset and stands ready to achieve continual rent growth and maintain 100% occupancy into the future.

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Park Information

Number of MH Lots: 69
Total Occupancy: 98.0 %
Size: 21 acre(s)

Financial Information

Operating Expense: $485,000

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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