Property Description:
This 7-property mobile home package in the Taylor Creek area of Okeechobee offers immediate rental income with major upside potential. Six of the seven homes sit directly on canal-front lots with boat access, and all units are occupied by long-term tenants, although they are all paying well below market rents. Each home features land ownership (no park fees) and ranges from 672 to 1,752 square feet, built between 1965 and 1986. Current monthly income totals $6,425, with potential to nearly double to $12,500+ after modest renovations and rent adjustments.
All units are dated and in need of varying levels of rehab—primarily interior updates, mechanical tune-ups, and exterior cleanups—but structures are sound and well-situated in a desirable, high-demand rental pocket just off Highway 441 SE. Investors can expect a strong combination of waterfront appeal, under-market rents, and equity spread at acquisition.
🛠️ Rehab Scope (Portfolio-Wide)
- Interior updates across all units (flooring, paint, kitchens, baths)
- Replace select roofs (mix of metal and shingle, older vintages)
- Upgrade HVAC where missing or outdated
- Electrical/plumbing tune-ups
- Exterior paint, skirting, and landscape cleanup
- Dock, deck, and canal-edge improvements where needed
🔵 Comparable Sales (Rehabbed / Waterfront Okeechobee MHP)
- 3034 SE 24th St – 2/2 | 1,344 sf | 1984 | Waterfront | Sold $187,500 ($139/sf) – Renovated
- 2608 SE 33rd St – 3/2 | 1,456 sf | 1987 | Canal-front | Sold $195,000 ($134/sf) – Updated
- 2335 SE 29th St – 2/2 | 1,152 sf | 1982 | Waterfront | Sold $180,000 ($156/sf) – Turnkey
- 3312 SE 30th Ter – 2/2 | 1,188 sf | 1983 | Waterfront | Sold $190,000 ($160/sf) – Nicely Finished
- 3225 SE 34th Ave (non-waterfront) – 3/2 | 1,100 sf | Sold $120,000 – Average condition