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Address is 5435 Lewellyn Road Lakeland, FL 33810

Dan Mulkey

Real Estate Broker

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Country Villa MHP

Multi Family Housing for Sale in Lakeland, Florida

5435 Lewellyn Road
Lakeland, FL 33810

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Sale Price: $1,475,000
 

Contact Information

Dan Mulkey
Real Estate Broker

Mobile Home Park for Sale

Number of MH Lots: 44
Size: 4.1 acre(s)
Cap Rate: 9.0%
Purchase Method: New Loan
Status: Active
Property ID: 837795
Posted on: Jul 27, 2017
Updated on: Oct 04, 2017
Price: $1,475,000

Property Description

This park is offered as park of a 2 park portfolio in Lakeland. Call Broker for details. This well cared for 44 space senior park (55+) has mostly "rent-to-own" homes. The park is a Senior Park 55+ with reasonable site rents. With proposed financing the asset should produce 14% cash flows. The park has 7 resident owned homes, 27 Rent-to-Own homes, 4 homes for sale and 6 vacant sites.

Location Description

Close to Interstate 4 and shopping Centrally located mid-point between Tampa & Orlando Country Villa is situated in a neighborhood location. It is near I4 and shopping. Lakeland is about mid-point between Tampa and Orlando.

Park Information

Number of MH Lots:44
Total Occupancy:86.0%
Year Built:1970
Average MH Lot Rent: $336
Size:4.1 acre(s)

Financial Information (Pro Forma)

Gross Income$224,738
Operating Expense$92,079
Net Operating Income$132,659
Expense Ratio 41.0%
Debt Info75% LTV, 5.5%, 25 yr amort, 5 yr call

Lot Information

Singlewide Lots:44

Utility Information

Water:Well
Water Paid By: Park
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:31
Average Rent for Park-owned Homes: $584