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Address is 6035 Norton Rd Lakeland, FL 33809

Benny Spensieri

CRES Corp International, LLC

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29-sp/Unit Lakeland Ct MHP

Manufactured Home Community for Sale in Lakeland, Florida

6035 Norton Rd
Lakeland, FL 33809

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Sale Price: $1,200,000
 

Contact Information

Benny Spensieri
CRES Corp International, LLC

Mobile Home Park for Sale

Number of MH Lots: 22
Size: 3 acre(s)
Cap Rate: 11.3%
Purchase Method: Cash, Seller Financing, New Loan
Status: Active
Property ID: 876218
Posted on: Nov 07, 2017
Updated on: Nov 07, 2017
Price: $1,200,000

Property Description

The Lakeland Court park is located close to the Lakeland Mall with all the shopping and restaurants nearby. This magnificent park consists of:

2 Block Homes 2 Duplexes 23-spaces/MH Units 75% Occupied GR = $171,756 NOI = $133,157

The owners are using a rent ready Doublewide that can be leased for $850/mo. Also, they have completely refurnished a vacant unit from one of the duplexes that will capture $950. Just these two rentals will bring in $21,600/an gross revenue.

Price: $1,200,000

Sellers may consider offering Seller Financing to a Qualified Purchaser. .

Park Information

Number of MH Lots:22
Total Occupancy:75.0%
Average MH Lot Rent: $600
Size:3.0 acre(s)

Financial Information

Gross Income$171
Operating Expense$37
Net Operating Income$133
Expense Ratio 21.6%
Debt Info

Utility Information

Water:City
Water Paid By: Tenant - Individual Service
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:19
Average Rent for Park-owned Homes: $600