Entrance Sign
Park Home
Park Home
Park Home
Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 8.0%
- Listing ID: 72283
- Posted On: Jun 3, 2011
- Updated On: Nov 30, 2012
Description
College Park MHP is a 99 site all age community of predominately sigle wide coaches. Park sites are generally large (50x100) and can accommodate double wide homes. Currently there are 4 rental homes owned by the park and 6 in various stages of renovation. These homes may be used as rentals or sold as site rental homes offering good upside in the income.
The park offers resonable rental rates for site rents and home rentals. Site rents can escalate October of each year. The prospectus allows for rents to increase subject to the prevailing market rates and/or CPI.
Location
The park is located on US Hwy 27 about five miles south of State Route 60 in Lake Wales, home to Bok Tower and Botanical Gardens.
Amenities
- Club House
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 99 |
| Total Occupancy: | 81.0 % |
| Year Built: | 1973 |
| Average MH Lot Rent: | $296 |
| Size: | 15 acre(s) |
Financial Information (Actual)
| Gross Income: | $294 |
| Operating Expense: | $175 |
| Net Operating Income: | $118 |
| Expense Ratio: | 59.5 % |
| Debt Info: | New Loan |
Lot Information
| Doublewide Lots: | 99 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 12 |
| Average Rent for Park-owned Homes: | $509 |
