Property description of Multi Family

Value add | okeechobee | four mobile home parks (175 units) in very close proximity to one another with 2 parks being contiguous and represents 123 pads. There is a positive appetite to acquire mobile home parks in okeechobee driven by several compelling market dynamics: affordable housing demand, interest in stable, cash-flowing assets, local market appeal and low operational costs. The parks a) cloverport mobile home park/28 units; 7650 highway 78 w. B) dew drop mobile home park/57 pads; 8791 highway 78 w. C) okeechobee lake mobile home park/66 pads; 8951 highway 78 w. D) palm drive trailer park/ 24 pads; 3307 and 3611 se 36th ave. Download the offer memorandum for salient data including individual park descriptions, rent rolls and income & expense. Highlights of the individual parks:cloverport mobile home park; 7650 highway 78 w. Okeechobeecloverport mobile home park is located minutes from lake okeechobee, kissimmee river and downtown okeechobee (2. 7 miles) with its dining and shopping, & less than 6 miles from the up-and-coming bass pro resort at 10430 w highway 78. Cloverport mobile home park is a 27 lot/pad and one cbs studio apartment complex with laundry facilities rented on an annual basis. And sits on over 2. 5 acres, with three entrances, sub-metered public water & septic. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. Water expense is passed through to the tenant's owner mobile homes. There are 5 brand 560 sf new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1200 per month. The value-add lies in leasing the 6 vacant pads or installing new mh's at a cost of approx. $58,000 per unit providing a 9. 5%-10% cap rate with an investment estimated at $348,000. Dew drop mobile home park; 8791 highway 78 w., okeechobee the dew drop mobile home park sits on 3. 9 acres and contains 57 pads with one folio. The park consists of lot rents only as each mobile home is tenant owned. The mhp is less than 5 miles to the central business district of downtown okeechobeeokeechobee lake mobile home park; 8951 highway 78 w., okeechobeeokeechobee lake mobile home park contains 66 pads (lot rent only)this park is contiguous to dew drop mobile home park and together they have a combined 126 pads. The park consists of lot rents only as each mobile home is tenant owned. The mhp is less than 5 miles to the central business district of downtown okeechobeethe park has one folio numberpalm drive trailer park; 3307 and 3611 se 36th ave; okeechobeethe property possesses two folio numbers and is situated on a canal with access to lake okeechobee. The park has 24 pads and collects rent for lot rent only.

Property Features