RV Park/Campground Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 11.9%
- Listing ID: 4089246
- Posted On: Nov 28, 2023
- Updated On: May 2, 2024
Description
Price Reduction~~~Welcome to 1820 Lovely Oaks Mobile Home Park. The property sits on 9.41 acres of which 5.41 house 20 mobile homes, 2 sheds and another trailer with two generators to run the well and septic in case there is a power outage. The remaining 4 acres can be subdivided or used for additional mobile homes.
New owners have installed a $250,000 septic system. 18 mobile homes have been totally renovated. 4 have new roofs. They have installed 17 video outside security cameras. 5 units have new refrigerators. Each unit has a new set of outside stairs and new house numbers. New outdoor lighting fixture have been installed.
Owners have significantly upgraded the quality of tenants and property is 100% occupied, with a waiting list. Owner has 20 signed leases and the rents have been increased, the average rent rate is $950.00 per unit per month.
Park manager is available 24/7 so you can be an absentee owner.
Park provides lawn care and weekly trash pickup. Water and sewer are also included in tenant’s rent.
Please feel free to call the listing agent:
Lois Seropian
941-356-4195
Location
1820 Itchetucknee Rd, Live Oak, FL 32064
Amenities
- Wifi
Park Information
Number of RV Lots: | 20 |
Year Built: | 1980 |
Average RV Lot Rent: | $950 |
Size: | 9.4 acre(s) |
Financial Information (Actual)
Gross Income: | $240,000 |
Operating Expense: | $42,502 |
Net Operating Income: | $197,408 |
Expense Ratio: | 17.7 % |
Utility Information
Water: | Well |
Sewer: | Septic |