Property details
Florida RV / Mobile Home Community, Southeast Region
Property Description
Florida RV / Mobile Home Community
Update: 2/9/22: The seller will consider owner-financing and hold a reasonable amount of paper on this deal.
Located in an area that is going through a tremendous growth stage. What reinforces that growth stage is the fact that major aerospace and aircraft companies like Space X, Blue Origin and Boeing have recently taken up residence at Cape Canaveral. Consequently the trickle down effect is creating a huge demand for job opportunities and more important affordable housing. This park is located in a a popular retirement and vacation area for baby boomers and retirees.
This park is located directly in between 2 trophy RV parks. This property is 100% occupied and kept up that occupancy rate consistently for the past several years recent capital improvements are newly patched roads, newly, new leech fields and piping, plus sub-feed boxes to RVs, parked on models and lines own models and laundry room area.
The water is city. The septic sewer system is in good condition and recently had a new leach fields and piping installed. The utilities that are included in a lot rental fee are water sewer and trash. The electric is included in the RV rental fee up to the 1st $50. Over and above $50 cap, the tenant is responsible for the balance. All mobile home tenants are responsible to pair their own electric.
This prime location is approximately 20 minutes from the space X launch complex, 10 minutes from Boeing aircraft, 45 minutes from Disney world, Orlando and the International airport.
Due to the market conditions and the location of this park by next year this park will increase in value by approximately 30%.
Acres: 3.54
Total Sites: To Be Determined
Total Units: 56
Park-Owned Mobiles: 10
Park-Owned RVs: 5
Tenant Owned Units: 41, made up of 17 mobile homes and 24 RVs
RV Storage: 1
Occupancy: 100%
2020 Gross Revenue: $450,694
Laundromat: $17,192
Vending Machine: $6,754
Total Revenue: $474,640
2020 Operating Expenses
Insurance: $3,000
Management Fee: $20,000
Professional Fees: $2,880
Property Taxes: $16,153
R/M: $2,664
Utilities: $33,369
Lic. / Permit: $400
Total: $78,466
Net Operating Income (NOI): $396,174
MHP and RV Parks Development Sites
Images
Highlights
- Status:
- Available
- Price:
- $5,900,000
- Cap Rate:
- 6.71%
- Annual Rent:
- $396,174
Property Information
- Property Type:
- Mobile Home Parks
- Industry Type:
- Mobile Home Park
- Units/Spaces:
- 56
- Land Area:
- 3.54 acres
- 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.