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Address is 210 Nw 10th Ave Jasper, FL 32052

Dmitry Samsonenko

Union Capital Group LLC

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Ratliff's Mobile Home Park

Multi Family Housing for Sale in Jasper, Florida

210 Nw 10th Ave
Jasper, FL 32052

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Sale Price: $390,000

Contact Information

Dmitry Samsonenko
Union Capital Group LLC

Mobile Home Park for Sale

Number of MH Lots: 16
Size: 1.9 acre(s)
Cap Rate: 10.0%
Purchase Method: Cash, Seller Financing
Status: Active
Property ID: 970283
Posted on: Jul 17, 2018
Updated on: Aug 24, 2018
Price: $390,000

Property Description

16 lots (15 mobile homes & 1 RV), city water/city sewer, asphalt roads, 100% occupancy, all homes are owned by the residents (no park owned homes), 5 min from I-75. 1.87 acres on 3 parcels.

Hassle free management - great income producing property for an out of state owner as all lots are individually metered for electric/water/sewer and paid for by the residents directly to the service providers. The city is responsible for maintenance of water/sewer lines before meters and the residents are responsible for the lines after meters. All residents have individual trash containers and pay directly to the city.

Gross annual income is $43,740 with basically no expenses other than property taxes $1,936, management $2,100, and liability insurance $450 annually. Seller is holding notes on 3 mobile homes which were recently remodeled; the notes are included in the sale.

Lot rent is $175-225/month. The obvious upside right away is raising rents to market rate of $225-250 (lot rent hasn’t been raised for 2 years) which will bring gross annual income to $47,000.

There is an on-site manager who has managed the park for 10+ years. Rent is collected in the form of checks/money orders only, no cash is accepted. The park is very quiet and safe, most residents have stayed in the park for 10-20 years.

Seller will consider financing for up to 3 years at 6% with 40% down.

The park has never been on the market. Please do not disturb tenants or drive on the property without appointment.

Park Information

Number of MH Lots:16
Total Occupancy:100.0%
Average MH Lot Rent: $200
Size:1.9 acre(s)

Financial Information (Actual)

Gross Income$43,740
Operating Expense$4,586
Net Operating Income$39,154
Expense Ratio 10.5%
Debt Info

Utility Information

Water Paid By: Tenant - Individual Service