Mobile Home Park

Morning Star MHP

221 21st St SE, Ruskin, FL 33570

Listing Price: $2,100,000

Cap Rate
6.52%
Number of Spaces
32
Lot Size
4.70 acres
Occupancy
87.5%
Price/Space
$65,625
Spaces/Acre
6.81
Year Built
1958

Investment Overview

Marcus & Millichap is proud to present the opportunity to acquire Morning Star Mobile Home Park in Ruskin, FL. Comprised of 32 lots and located on 4.7 acres of land, the park is serviced by a private water and septic, which is not directly billed to the tenants, allowing for some incredible value add potential. The property is 3 miles from the bay and a 30 minute drive from downtown Tampa, which has seen a 15% growth in the last 10 years. Proximity to a metropolis with a population of 3 million makes this an ideal investment for buyers looking for long term housing demand and rent growth. This property is offered in conjunction with The Grove Tallahassee Mobile Home Park in Tallahassee, FL and Sunshine City Mobile Home Park in St. Petersburg, FL. The full portfolio offers the rare opportunity for value add-potential and strong cashflow in two highly desirable markets. All of these properties are desirable on their own, but as a portfolio, this a unique opportunity to acquire 388 lots in large density MSAs. And while the preference is to sell as a portfolio, they are also available on an individual basis.

Investment Highlights

  • STRONG MARKET: Only 1.5 mi from the Amazon Ruskin Fulfilment Center, Tampa Bay's population is over 3M & has grown 15% in 10 years, 3 mi from the ocean & 30 mins to downtown Tampa
  • VALUE ADD OPPORTUNITY: Opportunity to bill back water & septic to increase cash flow, Opportunity over long term ownership to sell existing homes to tenants & lower operating cost
  • DESIRABLE PORTFOLIO OFFERING: Institutional sized portfolio, Owners have invested over $3.5M in capex improvements, Two properties have city water & city sewer, All have rent increase upside

Exclusively Listed By

  • Jeff Benson

    Senior Vice President Investments

    (310) 909-5420

    Email Jeff

    License(s): CA: 01327285

    West Los Angeles

  • Kenneth Schefler

    Associate

    Email Kenneth

    License(s): CA: 02091391

    West Los Angeles

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

Mobile Home Park

Morning Star MHP

Listing Price: $2,100,000

Cap Rate
6.52%
Number of Spaces
32
Lot Size
4.70 acres
Occupancy
87.5%
Price/Space
$65,625
Spaces/Acre
6.81
Year Built
1958

Investment Highlights

  • STRONG MARKET: Only 1.5 mi from the Amazon Ruskin Fulfilment Center, Tampa Bay's population is over 3M & has grown 15% in 10 years, 3 mi from the ocean & 30 mins to downtown Tampa
  • VALUE ADD OPPORTUNITY: Opportunity to bill back water & septic to increase cash flow, Opportunity over long term ownership to sell existing homes to tenants & lower operating cost
  • DESIRABLE PORTFOLIO OFFERING: Institutional sized portfolio, Owners have invested over $3.5M in capex improvements, Two properties have city water & city sewer, All have rent increase upside

Investment Overview

Marcus & Millichap is proud to present the opportunity to acquire Morning Star Mobile Home Park in Ruskin, FL. Comprised of 32 lots and located on 4.7 acres of land, the park is serviced by a private water and septic, which is not directly billed to the tenants, allowing for some incredible value add potential. The property is 3 miles from the bay and a 30 minute drive from downtown Tampa, which has seen a 15% growth in the last 10 years. Proximity to a metropolis with a population of 3 million makes this an ideal investment for buyers looking for long term housing demand and rent growth. This property is offered in conjunction with The Grove Tallahassee Mobile Home Park in Tallahassee, FL and Sunshine City Mobile Home Park in St. Petersburg, FL. The full portfolio offers the rare opportunity for value add-potential and strong cashflow in two highly desirable markets. All of these properties are desirable on their own, but as a portfolio, this a unique opportunity to acquire 388 lots in large density MSAs. And while the preference is to sell as a portfolio, they are also available on an individual basis.

Exclusively Listed By

  • Jeff Benson

    Senior Vice President Investments

    (310) 909-5420

    Email Jeff

    License(s): CA: 01327285

    West Los Angeles

  • Kenneth Schefler

    Associate

    Email Kenneth

    License(s): CA: 02091391

    West Los Angeles

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    License(s): FL: BK3154667

    Florida

MM Texture Background
MM Textured Background Lower