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Address is 1475 North Bridge Street Labelle, FL 33935

Peter Maneos

Arbela Capital

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County Line Mobile Home Park

Mobile Home Community for Sale in Labelle, Florida

1475 North Bridge Street
Labelle, FL 33935

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Sale Price: $1,100,000
 

Contact Information

Peter Maneos
Arbela Capital

Mobile Home Park for Sale

Number of MH Lots: 28
Size: 2.3 acre(s)
Purchase Method: Cash, New Loan
Status: Active
Property ID: 892437
Posted on: Jan 14, 2018
Updated on: Jan 14, 2018
Price: $1,100,000

Property Description

Excellent business opportunity for this Mobile Home park only a mile from downtown Labelle and 30 minutes from Ft. Myers. All homes on-site are property of the park and included with purchase. The park has benefited from extensive investments and upgrades in last two years including; new septic systems and pumps, electric service, well pump, well house, pavilion, landscaping, and re-paved roads with new gravel areas for parking provided. Many new (used) models have been relocated to park, so there are presently 28 home-sites filled. Water provided via clean common private well. Tenants pay electric via separate meters. All occupied homes have been remodeled in some manner, with working A/C and appliances in each. There is a small storage building on-site. Rents are considered below market and vacancies are filled immediately. Excellent opportunity for hands-on owner operator, or for owner wishing to provide a part-time handyman to operate. Call now before this cash-cow with tremendous upside passes. DO NOT DISTURB TENANTS. CALL Peter at 305.798.3184 for SHOWINGS AND DETAILS. Owner Financing with $800,000 down.

2017 Revenue and Expenses
From Current Rent Roll and Expenses
Annualized Income $156,000
Annual Operating Expenses $45,600
NOI $110,400
Cap Rate 10%

2017 Revenue and Expenses - Pro Forma 10% Vacancy -
From Current Rent Roll and Expenses
Annualized Income $210,000
Annual Operating Expenses $51,000
NOI 159,000
Cap Rate 14%

2017 Revenue and Expenses - Pro Forma Full Occupancy -
From Current Rent Roll and Expenses
Annualized Income $235,200
Annual Operating Expenses $53,520
NOI 181,680
Cap Rate 16%

Park Information

Number of MH Lots:28
Total Occupancy:95.0%
Year Built:1991
Average MH Lot Rent: $550
Size:2.3 acre(s)

Lot Information

Singlewide Lots:28

Utility Information

Water:Well
Water Paid By: Tenant - Submetered
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:28
Average Rent for Park-owned Homes: $550