Mobile Home Park Details

  • Cap Rate: 8.2%
  • Listing ID: 14048
  • Posted On: Jun 28, 2010
  • Updated On: Oct 12, 2010

Description

Florida Mobile Home Park management Association for 540 space Senior Park in Lee County. The unique opportunity to own the club house and common areas of a resident owned manufactured home community. There are almost 550 total homes between two contiguous parks and maintenance fees are in the $80 fee and rise by CPI every year. Little or no vacancy and collection issues. You own the pool, clubhouse, shuffle board court and common area and are responsible for mowing of these as well as trash pickup, maintaining roads and providing street lighting. Basically fixed expenses with rising income.

Amenities

  • Storage
  • Pool
  • Club House
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Park Information

Community Type: 55 And Over
Number of MH Lots: 540

Financial Information

Gross Income: $543,313
Operating Expense: $200,101
Net Operating Income: $334,213
Expense Ratio: 36.8 %