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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

Mobile Home Park for Sale in Lakeland, Florida

6035 Norton Rd
Lakeland, FL 33809

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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: Sold
Property ID: 876218
Posted on: Nov 07, 2017
Updated on: Feb 18, 2018

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 Paid By: Tenant - Individual Service

Park-Owned Homes

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