Lillian & Hobbs MHP/RV Portfolio
28 Unit Mobile Home Park | $1,055,000 ($37,679/Unit) | 8.75% Cap Rate | Pensacola, FL 32506
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,055,000
- Property Type
-
Multifamily
Listing Contacts
Jared Jackson
Verified Profile
- Property Info
Property Overview
Beck Partners is pleased to present for sale this 2-park portfolio located in West Pensacola, Florida. These parks are centrally located within half a mile of each other allowing for ease of management and operational efficiencies. They are positioned close to Downtown Pensacola and are walking distance of several employers and national retailers including Lowes, Home Depot, and Walmart among others.
Lillian Mobile Home & RV Park consists of 16 lots and one stick-built home on public water and sewer. There are submeters in place at Lillian that are not being used by the Seller, which would allow a Buyer the ability to bill back water immediately. Hobbs Mobile Home & RV Park consists of 10 lots and one stick-built home that are serviced by public water (master meter) and septic tanks. As evidenced by the rent roll, both parks feature tenants with below-market rents, leaving easy upside for a Buyer. There are three rent-to-own contracts (RTOs) that will be transferred with the sale, as well as one park-owned RV. Electric is individually metered and paid directly by tenants; each park has a dumpster that is paid for by the park.
Lillian Mobile Home & RV Park consists of 16 lots and one stick-built home on public water and sewer. There are submeters in place at Lillian that are not being used by the Seller, which would allow a Buyer the ability to bill back water immediately. Hobbs Mobile Home & RV Park consists of 10 lots and one stick-built home that are serviced by public water (master meter) and septic tanks. As evidenced by the rent roll, both parks feature tenants with below-market rents, leaving easy upside for a Buyer. There are three rent-to-own contracts (RTOs) that will be transferred with the sale, as well as one park-owned RV. Electric is individually metered and paid directly by tenants; each park has a dumpster that is paid for by the park.
Property Details
- Year Built
- 1985
- Stories
- 1
- Property Subtype
- Manufactured Housing/Mobile Home
- Lot Size (sq. ft)
- 64,469 SF
- Units
- 28
Highlights
- Centrally Located in Pensacola Florida
- Stabilized Portfolio with Value Add Opportunity
- Located in a strong growing Florida MSA
- Over 85% of the units are Tenant Owned
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