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Address is 8535 Mathews Road Lakeland, FL 33809

Dan Mulkey

Real Estate Broker

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Oak Meadows MHP

Mobile Home Park for Sale in Lakeland, Florida

8535 Mathews Road
Lakeland, FL 33809

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Sale Price: $2,200,000

Contact Information

Dan Mulkey
Real Estate Broker

Mobile Home Park for Sale

Number of MH Lots: 51
Size: 9.8 acre(s)
Cap Rate: 13.0%
Purchase Method: New Loan
Status: Active
Property ID: 837823
Posted on: Jul 27, 2017
Updated on: Oct 04, 2017
Price: $2,200,000

Property Description

Oak Meadows is part of a 2 park Lakeland portfolio offering. Contact agent for details. This all age community offers 51 home sites. The park has recently been upgraded including some new homes as well as many renovated homes to accommodate the residents. The park has 45 Rent-to-Own, 2 resident owned and 2 homes for sale. There are 2 vacant sites.

Location Description

This neighborhood setting is on W. Socrum Loop Road a few minutes drive north of I4 off of Hwy 98. The Lakeland Regional Mall is but a short drive south on Hwy 98.

Park Information

Number of MH Lots:51
Total Occupancy:92.0%
Year Built:1972
Average MH Lot Rent: $715
Size:9.8 acre(s)

Financial Information (Pro Forma)

Gross Income$415,880
Operating Expense$130,899
Net Operating Income$284,981
Expense Ratio 31.5%
Debt Info75% LTV, 5.5%, 25 yr amort, 5 yr call

Lot Information

Singlewide Lots:51

Utility Information

Water Paid By: Park
Sewer:Treatment Plant

Park-Owned Homes

Number of Park-owned Homes:45
Average Rent for Park-owned Homes: $732