Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.0% (Actual)
- Listing ID: 915438
- Posted On: Apr 2, 2018
- Updated On: Jul 18, 2019
Description
For sale 23 pad mobile home park and 3/1 single family rental. Total 24 units, with two vacant sites currently (so 22 revenue producing and two vacant sites). All units have been renovated and resold (except for the house, which is still owned and rented out). Average renovation per home was around $12,000 (a copy of a typical rehab is in the documents section).
-All units have 12 month leases, and none of the mobile homes are owned.
-All units are currently rented.
-All units are individually metered for water and electric.
-County water, sewer, electric and trash handled through Lakeland Electric.
-This is a strictly lot-leased family mobile home park.
-Walking distance to Lakeland Mall, Publix, and public transportation.
Location
Parcel: 01-28-23-000000-043010
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 23 |
| Total Occupancy: | 91.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $435 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $154,022 |
| Operating Expense: | $54,569 |
| Net Operating Income: | $99,453 |
| Expense Ratio: | 35.4 % |
| Debt Info: | New |
Lot Information
| Singlewide Lots: | 23 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |