Description
Opportunity with this Vaue-Add property. Sporting an eclectic mix of 13 Tenants = 2 houses, 6 RV Lots, 1 Mobile Lot and a Fourplex of studios. This is a permitted licensed Mobile Home Park called Gardenland Mobile Home and RV Park, but there are two houses and the fourplex too. The RV's & Mobile home are owned by the Tenants. They are parked permanently and attached to water sewer & electricity. Low Maintenance as you only have to worry about the building structures & the rv/mobile connections. Property was paved, new roofs in 2019. There is a lot of room to bump the rents as well. Rent are approximately $20,000 under market in annual rent presently and its already a 9.23% cap rate. This is a unique little community in a close knit environment. Bring us an offer now. Its a great return & is easier than more conventional properties. This thing makes very good income. At market rents you gross $102,660 and a 12.37% cap rate. VACANCY less than 1%. Gross Rent Multiplier is 7.74 - HELLO!
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0BEDS
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0.47ACRES
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0BATHS
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01/2 BATHS
School Information
Description
Opportunity with this Vaue-Add property. Sporting an eclectic mix of 13 Tenants = 2 houses, 6 RV Lots, 1 Mobile Lot and a Fourplex of studios. This is a permitted licensed Mobile Home Park called Gardenland Mobile Home and RV Park, but there are two houses and the fourplex too. The RV's & Mobile home are owned by the Tenants. They are parked permanently and attached to water sewer & electricity. Low Maintenance as you only have to worry about the building structures & the rv/mobile connections. Property was paved, new roofs in 2019. There is a lot of room to bump the rents as well. Rent are approximately $20,000 under market in annual rent presently and its already a 9.23% cap rate. This is a unique little community in a close knit environment. Bring us an offer now. Its a great return & is easier than more conventional properties. This thing makes very good income. At market rents you gross $102,660 and a 12.37% cap rate. VACANCY less than 1%. Gross Rent Multiplier is 7.74 - HELLO!
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