Located in Wildwood, FL is a fantastic value-add mobile home park opportunity awaiting an investors’ touch to command an incredible return!
The property consists of two adjacent parcels with a total combined acreage of 4.4 acres. The property consists of 18 park-owned mobile homes. 16 of the mobile homes have been recently renovated at the owner’s expense. All units are occupied by long-term, month-to-month, tenants. One of the other two units is used as the seller’s office, and the other one is vacant and in need of rehab.
The property is currently bringing in approximately $11,115/month, and currently has very little to no operating expenses. In its current state, the property is netting almost $110,000/year. However, with the value-add opportunity in place, we project the ability to net over $135,000/year giving this property a lucrative future resale value.
The park’s value-add comes from 4 other vacant lots that are currently permitted with the city. That brings the number to a total of 22 units in the park. We recommend putting 4 additional park-owned mobiles on the vacant lots, as well as utilizing the other two existing mobile homes that aren’t currently used for long-term rentals to command market rent.
Opportunities like these are few and far between so contact Us Today to secure this deal!