Mobile Home Park

Oak Harbor MHP

6496 Bruce Ln, Milton, FL 32570

Listing Price: $1,300,000

Cap Rate
7.27%
Number of Spaces
38
Lot Size
5.87 acres
Occupancy
100.0%
Price/Space
$34,211
Spaces/Acre
6.47
Year Built
1990

Investment Overview

The park is priced at $1,300,000. The pricing represents a cap rate of 7.27% using lot rent income excluding home rent income) on normalized actuals representing a 41.9% expense ratio. We are asking that investors submit offers at or above $1,300,000. This community should qualify for conventional recourse bank financing from a local bank using about a 70% LTV, 5% interest and a 25 year amortization providing investors with a 9.63% cash on cash return and a 14.4% total return in the first year of ownership.

Investment Highlights

  • 100% Occupancy
  • Full RTO Maturity Q! 2021
  • Public Water

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    Email Glenn

    License(s): GA: 355850

    Charlotte Uptown

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Listing Price: $1,300,000

Cap Rate
7.27%
Number of Spaces
38
Lot Size
5.87 acres
Occupancy
100.0%
Price/Space
$34,211
Spaces/Acre
6.47
Year Built
1990

Investment Highlights

  • 100% Occupancy
  • Full RTO Maturity Q! 2021
  • Public Water

Investment Overview

The park is priced at $1,300,000. The pricing represents a cap rate of 7.27% using lot rent income excluding home rent income) on normalized actuals representing a 41.9% expense ratio. We are asking that investors submit offers at or above $1,300,000. This community should qualify for conventional recourse bank financing from a local bank using about a 70% LTV, 5% interest and a 25 year amortization providing investors with a 9.63% cash on cash return and a 14.4% total return in the first year of ownership.

Exclusively Listed By

  • Glenn D. Esterson

    Vice President Investments

    Email Glenn

    License(s): GA: 355850

    Charlotte Uptown

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

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