Clearwater, FL – 70 space MHP Incl 2 Apartments For Sale!

Note: This is one of two MHP’s this owner is offering for sale. The other is the 47-sp Sunshine City MHP located in St Petersburg, FL. Seller will consider providing financing for the Sunshine City MHP. (see attached Report)

Location: 5860 15th Ave N, Clearwater, FL 33760

The Sun Terrace MHP is located just minutes from Clearwater Beach and the Down Town area. This park consists of:

70-space
63 Park Owned Homes
1- 2-unit Apartment
Family Park
City Water & Sewer (Submetered)
94% Occupied
GR = $508K
NOI = $305K

Property also includes a Laundry Building (not currently used), Office, Recreation Building (not currently being used) and a maintenance building.
Rents collected average $602 (Apartments), $253 (Lot Rent), $463 (Single Wide Units), $835 (Double-wide Units).

Current rents are well below market. The owner has incorporated a 7% increase in rents for new tenants but has not increased the rents for the long tern tenants.

Asking Price: $2,900,000

Feel free to contact me for further information.