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Address is 20312 Old Somerset Acres Ln Spring Hill, FL 34610

Mark A Smith

Smith and Associates Real Estate

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13 Mobile Home Country Family Park

Mobile Home Community for Sale in Spring Hill, Florida

20312 Old Somerset Acres Ln
Spring Hill, FL 34610

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Mobile Home Park for Sale

Number of MH Lots: 13
Size: 2.9 acre(s)
Purchase Method: Cash, New Loan, Assumable Loan
Status: Sold
Property ID: 772126
Posted on: Dec 19, 2016
Updated on: Jan 31, 2018

Property Description

Priced Reduced. Very cozy, country, family park with 13 park own homes on 2.88 acres. Current owner purchased and is in the final stages of this park rebuild which is reflected in the high cash flowing proforma income numbers and rent increases. Currently 11 are rented with 2 vacancies one of which is being remodeled. Expenses are low and park is easy to manage. Park has large septic tank, well water and a possible partial assumable mortgage. Take advantage of these rebuilt mobile home units and high future proforma income. NDA requested (see attachments) for financials with POFs requested for showings. Please do not go to the park without an appointment. 2016 Net Income annualized at $44,286. Expected 2017 Proforma GI $78,240 and NI $53,360. Projected GI Proforma when 100% filled GI $89,940 . See www.markasmithtampabay.com

Park Information

Number of MH Lots:13
Total Occupancy:85.0%
Year Built:1973
Average MH Lot Rent: $615
Size:2.9 acre(s)

Financial Information (Pro Forma)

Gross Income$78
Net Operating Income$53
Debt Info$200,000 Assumable Loan 11%

Utility Information

Water:Well
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:13
Average Rent for Park-owned Homes: $615