Property details

Two Central Florida Mobile Home Parks, Southeast Region

Property Description

Two Central Florida Mobile Home Parks

2 mobile home parks on approx 18 acres with 101 total spaces in Central Florida

This is a portfolio sale only

2 mobile home park portfolio in Central Florida that's making a lot of money

Purchase price is firm per the seller at $3,950,000.

The buyer to pay the 3% real estate commission

To move forward the buyer to follow the protocol below

NOI: $285,958

Cap Rate: 7.23%

The seller will provide the up to date P&Ls & all documentation to the buyer in the formal due diligence period description

This is a mobile home park portfolio consisting of two mobile home parks.

The first mobile home park features 60 spaces consisting of 39 tenant owned homes, 14 lease option homes, 2 parked owned homes and 5 vacant lots. This property sits on 10 acres and was built in 1955. The utilities are private well water and an on-site sewer plant. 2017 property taxes $17,819.

The second mobile home park features 36 spaces, consisting of 26 tenant owned homes, 6 lease option homes, 4 vacant lots and 5 cottages, consisting of 1 efficiency, 2 two bedroom two bath houses, 1 two bedroom two bath house, and 1 three bedroom two bath house. The utilities are public city water and a private on-site sewer plant. Average occupancy in the mid 90% range. Built in 1958. Spaces 101 on 7.74 acres. Utilities are on public city water and a private on site sewer plant.

This is an off the market portfolio.

Highlights:
Gross scheduled income $504,582.
Proforma scheduled income $650,922.
Value add opportunity.
101 total spaces between two parks.
First Park: 60 spaces, well water & sewer plant.
Second Park: 36 spaces, 5 cottages.

Buyers are advised to do their own independent due diligence before commuting with the purchase and, their own research in regards to comps & rehab estimates.

The information provided herein is a pre-due diligence package and not a formal due diligence package. Once the buyer and the seller execute the asset specific purchase and sale agreement and the buyer opens up the contract escrow trust account with their contract earnest money deposit the seller will provide all of the formal due diligence information and documentation to be able to close this transaction.

To move forward, the buyer and the seller to execute the asset specific master fee agreement, the buyer to provide an asset specific letter of intent to include the purchase price, due diligence period, close of escrow date and the amount of contracted earnest money deposit that the buyer will escrow once the buyer and the seller execute the purchase and sale agreement. The buyer to provide a buyer's investment bio of commercial assets in the direct buyers investment portfolio. The buyer to provide a verifiable proof of funds in the form of a bank or fund statement. Please no transactional funding.



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Highlights

Status:
Available
Price:
$3,950,000
Cap Rate:
7.23%
Annual Rent:
$285,958
 

Property Information

Property Type:
Mobile Home Parks
Industry Type:
Mobile Home Park
Units/Spaces:
101
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.