Contact Information

Property Description

This well cared for 44 space park has mostly "rent-to-own" (rent credit program) homes. The park has reasonable site rents. With proposed financing the asset should produce 12% cash flows. The park consists of 6 resident owned homes, 26 rental homes, 6 homes for sale and 6 vacant sites. Additionally, there are 2 lots used as retention, 1 for shuffleboard and 1 retail building leased to a church.

Location

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.

Mobile Home Park Details

  • Price: $1,475,000
  • Purchase Method: New Loan
  • Cap Rate: 8.6%
  • Property ID: 837795
  • Posted on Jul 27, 2017
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Park Information

Community Type: All Age
Number of MH Lots: 44
Total Occupancy: 73.0 %
Year Built: 1970
Average MH Lot Rent: $336
Size: 4.1 acre(s)

Financial Information (Pro Forma)

Gross Income $214,792
Operating Expense $88,615
Net Operating Income $126,177
Expense Ratio 41.3 %
Debt Info 75% LTV, 5.5%, 25 yr amort, 5 yr call

Lot Information

Singlewide Lots: 44

Utility Information

Water: Well
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 6
Average Rent for Park-owned Homes: $584

Map

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