Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 10.0%
  • 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

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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

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