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3 Mobile Home Parks

Manufactured Home Community for Sale in Lakeland, Florida

110 Bartow Road
Lakeland, FL 33801

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Mobile Home Park for Sale

Number of MH Lots: 8
Cap Rate: 9.5%
Purchase Method: Cash, Seller Financing
Status: Active
Property ID: 784162
Posted on: Feb 09, 2017
Updated on: May 08, 2017

Property Description

PLEASE NOTE THAT THIS IS FOR 3 MOBILE HOME PARKS WHICH ARE OWNED BY 3 DIFFERENT PEOPLE LOCATED IN 3 DIFFERENT AREAS OF FLORIDA.

Park-1.......... Lakeland, FL Mobile Home Park $400,000 8 Spaces Lake front mobile home park Property Sub-type Mobile Home/RV Community No. Spaces: 8 Property Use Type Investment Price/Space $50,000 Cap Rate 14% Property Type Multifamily Lot Size 1.28 AC

Description Lakefront Polk County, FL Mobile Home Park - Includes Trailers!!

RENTAL INCOME: 8 Spaces Trailer 1 $575 Trailer 2 $525 Trailer 3 $500 Trailer 4 $375 Trailer 5 $525 Trailer 6 $400 (discounted for the on-site manager)

EXPENSES: Septic pumping annually $175 Garbage $160 Insurance $3,000 Taxes $3,500 Water $200 Property taxes $3,500 Total Gross Expenses = $10,820 yr Total Net Income = $37,780

Sales Price $400,000; CAP = 9.5%. With minimal investment of $20,000; add onsite laundry and 2 more trailers since there is water, sewer, etc for the above changes Gross can be $64,800 with net as $53,980.00 & CAP = 14%

Terms: 200k down and seller will carry note of $200,000 at 5% interest only for 5 years @ $833.00 per month

Total Cash flow = $53,980 (net ) - $10,000 (loan) = $43,980/yr or $3,665.00 per month after all expenses including debt

Park-2..........Putnam County, FL Mobile Home Park $449,900 Rental income: 14 trailers $300.00/mo = $4200.00 Room for 1 more trailer Electric $55 Garbage $84 Insurance $50 Taxes $60 Water $100 Total expenses = $349.00/mo Gross $50,400/yr Exp $4,188/yr NET $46,212 CAP 10%

Park-3..........Palatka, FL Mobile Home Park $199,900 (Divorce Sale - subject to judges approval) Rental income: 5 trailers $570.00/mo = $2,850.00 Septic pumping annually $400 Electric $0 Garbage $0 Insurance $0 Taxes $4,0000 Water $0 Total expenses = $4,000.00/mo Gross $34,200/yr Exp $4,400/yr NET $29,800 CAP 15%

Park Information

Number of MH Lots:8
Total Occupancy:75.0%
Year Built:1
Average MH Lot Rent: $500

Financial Information (Actual)

Gross Income$48,600
Operating Expense$10
Net Operating Income$37
Expense Ratio 0.0%
Debt Info

Lot Information

Singlewide Lots:8
Doublewide Lots:0
Triplewide Lots:0

RV Information

Number of RV Lots:0
Average RV Lot Rent: $0

Utility Information

Water:City
Water Paid By: Park
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:6
Average Rent for Park-owned Homes: $500