Off Market MHP package: 2 park, 64 site, in Pensacola, FL For Sale

  • $1,295,000

Off Market MHP package: 2 park, 64 site, in Pensacola, FL (same owner)

Fully stabilized Mobile Home Park in a growing are of Pensacola-Ferry Pass, Brent Metro area in North Florida.

Strong MSA with 476,702 population, $181,450 median home price, and 3.5% unemployment.

Seller has these parks fully stabilized and almost turn key with 53 of 64 pads filled, homes are 90% tenant owned so the upside would be to add another 9 homes ( 1 lot is undeveloped and 1 lot has a brand new home on it that is for sale.) Both parks are public sewer and water, and 1 is direct billed. The other park is sub-meter, but just need to transfer billing to owners.

After upside park should be at 10-11 Cap.

Majority of tenants pay $240 in one park and $250 In the other. Market rent should easily be able to support an increase to $300

✔ 90% Tenant Owned Homes
✔ City water
✔ City Sewer
✔ About 500,000 people and growing
✔ Paved roads
✔ Easy Value Add

Price:
$1,295,000
Address:
Pensacola, FL
Terms:
For Sale
Property Type:
Home

Call (407) 678-0062 for more details