Florida MHP, Southeast Region

Property Description

Florida MHP well located. Situated on almost 1.5 acres with existing NOI of $66,156. Housing 10 remodeled park owned MHs (incl 4 double wide shortys) at $5,513/mo from a private housing firm on a 5yr lease w/a 5yr option and 1 home. Tremendous opportunity which generates an 11% CAP w/no mgmnt headaches, just one check pick up/mo from the managing firm. They pay all individual maintenance item expenses below $1,000! Site zoning of M allows most any lighter to medium industrial and comml uses including production, storage, and automotive as well as heavy machinery; with an underlying future land use of SMU-6 (Suburban Mixed Use-6 ) and F.A.R. of .35. The park is on municipal water & has septic. All rentals are separately metered for electric and all have been upgraded to 150-200amp service; and paid by housing firm. .Most, if not all units have been recently changed over from window unit AC to Central Air. This property features over 300ft frontage to 24th Ave S x 187ft in fenced depth. Excellent access for Indus/Comml or Housing.

Tenant is a property management company who specializes in special needs housing. Tenant handles all single repair incidents up to $1000. Landlord pays every dollar over $1000 for individual repair incidents. Loan is assumable but approval required

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