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Address is 5700 Flaxman St Pensacola, FL 32506

Dmitry Samsonenko

Union Capital Group LLC

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Oak Shadows MHP

Mobile Home Community for Sale in Pensacola, Florida

5700 Flaxman St
Pensacola, FL 32506

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Mobile Home Park for Sale

Number of MH Lots: 25
Size: 2 acre(s)
Cap Rate: 11.0%
Purchase Method: Cash
Status: Active
Property ID: 902893
Posted on: Mar 06, 2018
Updated on: May 03, 2018

Property Description

25 lots, city water/city sewer, no park owned homes, 10 min from downtown Pensacola, 20 min from Pensacola Beach and Perdido Key Beach. The park is very quiet and safe, located across the street from a church.

Lot rent is $290/months which includes water, sewer, garbage, and lawn care (residents with fenced yards cut their own grass). All lots are individually metered for electric and paid for by the residents. 24 lots are presently occupied and there is 1 vacant lot. There is a very good demand for RV lots in the area due to the park’s excellent location.

Water/sewer is master metered. The obvious upside right away is submetering water and sewer back to the tenants which will substantially increase the income stream.

The park was developed in the last 12 months from 10 to 25 lots. 14 lots were rented in the last 6 months to long-term tenants (6 months lease minimum). There is a an on-site manager who has lived in the park for 25 years. Rent is collected in the form of checks/money orders, cash is not accepted.

This park has never been on the market.

Park Information

Number of MH Lots:25
Total Occupancy:96.0%
Average MH Lot Rent: $290
Size:2.0 acre(s)

Financial Information (Actual)

Gross Income$82,000
Operating Expense$24,000
Net Operating Income$58,000
Expense Ratio 29.3%
Debt Info

RV Information

Average RV Lot Rent: $290

Utility Information

Water Paid By: Park