Updated about 9 years ago on .
Multifamily Mobile Home Park 14% ROI!
We have an equity interest in this property and are selling the contract.
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N Florida Ave, Lakeland, FL 33805
Investment: $494900
Built: 1920
Construction: Wood Frame
HOA:$0
Ready to go Mobile park with high performing tenants. This park features 11 mobile homes (1 of which is doublewide all others are single) 2 cottages (one efficiency and 1-2/1). There is also a 3/2 Home with fireplace and a detached 2 car garage (garage currently rented with main home) and 2 small storage units attached to garage. Property is on shared septic, that has all been recently cleaned, 2 new drain-fields and all new lift stations. Property has undergone a major clean up including trees, landscape, trash ext.... All exteriors of trailers were pressure washed and painted, all known maintenance repairs brought up to date and several trailers had extensive work. All tenants but 2 were kicked out and all new fresh tenants brought in (no trouble makers, mainly older) Park has 1 empty pad and one unit not rented needing to be rehabbed that owner will give a $20000 credit at closing to handle this and or will assist in making this happen, which will bring in another $1100-1200 per month not included on the rent roll. Owner has other rentals he can sell as a package with this one for up to a $30,000 discount if all bought together. Duplex bringing in $1200 a month-, 3/1 single family bringing in $750 per month, 3/2 bringing in $700 month. Free first months management for easy transition.
All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract. Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed. All closings are with a licensed title company with Insurable Title.
Buyer will be responsible for all closing costs unless otherwise indicated.
Foster Algier, Licensed Real Estate Agent, GRI
Real Estate Investment Source of Central Florida LLC