16 Unit MHP – Assumable Financing, Pomegranate Ave, Sebring, FL 33870 Sold

  • $389,000
  • 22 beds
  • 16 baths
  • 7,332 sqft

Huge return with this cash-flowing 16 unit Mobile Home Park. The park consists of 15 park owned mobile homes and 1 office unit that could be used as an efficiency to increase rents. All units are hooked up to sewer and are separately metered for electric. Monthly expenses are very low. Tenants maintain their own yard space and each is on a six month lease. Seller has invested over $50,000 in updates and renovations in the last year to bring up the quality of the park and increase monthly rents. There is a separate common laundry facility with coin operated washer/dryer for tenants use. All units have a range, refrigerator, and window unit with a/c and heat. Currently four units are vacant but are almost rent-ready, a buyer could update each unit as they become vacant and increase rent amounts. Current gross income is $5940 per month, but 2 units are rent ready to add another $1150/month once new tenants sign leases. Once fully operational the park estimates to bring in over $8200/ month in income. It’s rare to find a Mobile Home Park at price point. $150,000 in assumable financing available for qualified buyers at 5.5% for 10 years.


Rental Income:                       $7,090 mo. / $85,080 yr.
Investor Price:                         $389,900
Closing Costs to Buy:            $4,000
Rehab Projection:                  $16,000
Utilities:                                      $100
Property Insurance:               $3,000 / yr.
Estimated Taxes:                     $8,346 / yr.
Property Management:        $8,500 / yr.
Maintenance:                            $2,000 / yr.

Projected Income:                  $63,234
Estimated APY:                          15.42%

Price:
$389,000
Address:
Pomegranate Drive
Sebring, Florida 33870
Square Feet:
7,332
Bedrooms:
22
Bathrooms:
16
Terms:
For Sale
Property Type:
Manufactured
Year Built:
1978

Call 321-766-9338 for more details

Property Location