8 Mobile Homes Next to Each Other

  • $725,000
Hann St, Oak Hill, FL 32759
  • Manufactured/Mobile, Mobile Home Park
  • Property Type
  • 19
  • Bedrooms
  • 12
  • Bathrooms
  • 5,281
  • $900,000+-
  • Estimated ARV

Overview

  • Manufactured/Mobile, Mobile Home Park
  • Property Type
  • 19
  • Bedrooms
  • 12
  • Bathrooms
  • 5,281
  • $900,000+-
  • Estimated ARV

Description

Here’s a chance to own 8 doors, 6 of which are currently rented, and all within the same block to block and half.  Without taking out depreciation, vacancy rate, or any repairs the new owner may elect to do, we are coming in with an ROI of 12%.  The properties are all pretty dated, but seller has been keeping them rented in the current condition for the last 10 years.  We are assuming they will need some cosmetic rehab as you turn them over, but they are all getting close to the top of the market in rent as they are now.


The seller is currently staying in one of the units, that was previously rented for $1,500/mo.  The other vacant unit, was just recently vacated, and was renting for $1,000/mo.   Once fully rented, you should anticipate bringing in $9,100 per month, or $109,200 per year.  Subtracting out taxes and insurance, puts you taking home $90,200 or so.


The properties break down as such:

$1500.mo – 3/2 1,265 – Year built 1980 – 0.24 Acres (Currently Vacant)

$1300.mo – 2/2 920 sf – Year built 1991 – 0.24 Acres

$1300.mo – 3/2 924 sf – Year built 2000 – 0.24 Acres

$1000.mo – 2/1 550 sf – Year built 1963 – 0.26 Acres (Currently Vacant)

$1000.mo – 2/1 440 sf – Year built 1963 – 0.24 Acres

$950.mo – 3/1 510 sf – Year built 1966 – 0.24 Acres

$950.mo – 2/1 510 sf – Year built 1967 – 0.24 Acres

$800.mo – 2/2 672 sf – Year built 1967 – 0.24 Acres

Details

  • Price: $725,000
  • Property Size (Sq. ft.): 5,281
  • Land Area (Acres): 1.94
  • Garage: Mixed
  • Year Built: Varies - See Notes
  • Property Type: Manufactured/Mobile, Mobile Home Park
  • Property Status: Cash Flow
  • Vacant or Occupied: Occupied
  • County: Volusia
  • Estimated ARV: $900,000+-
  • Estimated Monthly Rent: $9,100
  • Yearly Taxes: $8,200
  • HOA Monthly Cost: $0
  • Construction Type: Prefab

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