CASH FLOW & VALUE ADD!

Lakeland Florida turnkey mobile home park with only 12 units and only 1 current vacancy. An additional 8 pads can be used for lot rent with hookups in place. 92% Occupancy! Great area in a growing community! Will not last if interested refundable EMD. Owner looking to reinvest on the West Coast. Accepting all offers.

Current

NOI $74,651

Cap 7.1

Proforma Scenario 1

NOI $99,203

Cap 9.58

Proforma Scenario 2

NOI $202,288

Cap 13

• 12 Unit Park with 6 extra pads for Value Add

• 92% Occupancy

• Land and Units are Owner Owned

• Built in 1970-1990

• 4.75 Acres

• Well and septic

• Individual electric meters

• Short drive to Legoland! Great Location!

• Mix of 3 bed/1bath; 2 bed/2 bath & 1 bed/1 bath

• Property Manager in place

• Buyer responsible for verifying repairs and market rents/financials

• Buyer is responsible for the own due diligence and is not relying on the seller numbers for the purchase

CAPITAL IMPROVEMENTS / LAST 12 MONTHS

• General / Construction Repairs –

• Removal of 4 Uninhabitable Units

• Rehab of Units #5 & #6

• Upgrade of Well Pumps

• Removal of Debris (Labor)

• Plumbing – R&R All Non-Conforming Faucets and Spickets

• Dumpsters – 40-Yard Containers for Debris Removal

• Appliance Replacements – Multiple refrigerator and stove units

• Air Conditioner Replacements – Multiple Unit Replacements

• Electrical Upgrades – Added two new electrical power poles with dedicated electric meters for water well pumps and sewer lift station

• Engineering

• Boundary Survey

• New Lot Layout Plans

• General Construction / Repairs - $30,227

• Plumbing - $8,056

• Dumpsters (Haul away debris) - $3,631

• Appliance Replacement - $4,213

• Air Conditioner Replacements - $1,977

• Electrical Upgrades - $6,041