157 Laurel Street 1-16, DeFuniak Springs, FL 32433

$350,000
Property Type: Commercial for Sale Lot Size (sq. ft.): 402,059 Status: Sold
Current Price: $395,000 List Date: 8/02/2014 Last Modified: 10/11/2024

Description

What a bargain!! A conservative Scheduled Gross Income of $6,870 per month. According to the owner typical approximate net income is $65,000 per year. 16 mobile homes set up on 1/2 acre lots and rented out for under $25,000 per home. Park includes about 9 acres of land and all 16 mobile homes. Each lot has Power, water, and sewer already installed designed for easy maintenance. Located right off Hwy 90 and very close to shopping, schools, and town. Park has both singlewides and Doublewides. Tenants are already in place--instant profitable business on day one. Current monthly rent on many units could stand to be increased for even more income. Possible 3rd party financing with 1/2 down. Also, seller would consider selling the west half of the park and 8 homes for half the price.

More Information MLS# 548438

Contract Info

Listing Board: Emerald Coast List Date: 2010-11-19 List Price: $395,000

Location, Tax and Legal

Unit #: 1-16 Sub Area: 2306 - Northwest DeFuniak/King's Lake Property Name: CIP MOBILE HOME PARK Legal Description: in file

General Property Info

Property Information: Maintenance, repairs, & property taxes The Figures above were taken from 2007 (2008 was very similar but 2009 and 2010 were lower due to rennovations and vacancies while rennovating) Vacant: No Immediate Occupancy: No Lot Depth: 420 CAM Per: Month Zoning: MOBILE HOMES Lot Frontage: 865 Acreage: 9.23

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: What a bargain!! A conservative Scheduled Gross Income of $6,870 per month. According to the owner typical approximate net income is $65,000 per year. 16 mobile homes set up on 1/2 acre lots and rented out for under $25,000 per home. Park includes about 9 acres of land and all 16 mobile homes. Each lot has Power, water, and sewer already installed designed for easy maintenance. Located right off Hwy 90 and very close to shopping, schools, and town. Park has both singlewides and Doublewides. Tenants are already in place--instant profitable business on day one. Current monthly rent on many units could stand to be increased for even more income. Possible 3rd party financing with 1/2 down. Also, seller would consider selling the west half of the park and 8 homes for half the price.

Class

Mobile/Trailer Park: 1

Construction Status

Existing: 1

Mobile Home Park

Year Built: 1992 Building SqFt: 15788 # of Pads: 16 Price P/SqFt: 28.18 Vacancy Rate: 0 Expenses/Unit: 812 Expenses/SqFt: 0.82 Price P/Unit: 27800 Gross Rent Multplr: 65 Scheduled Income: 82440 Actual Gross Income: 81685 Expenses: 13000 Net Operating Income: 68685 Cap Rate: 15

None

Current Price: $350,000

Status Change Info

Status: Sold Under Contract Date: 2014-07-31 Sold Date: 2014-08-01 Sold Price: $350,000

Location Tax and Legal

Area: 23 - North Walton County Street #: 157 Street Name: Laurel Street Suffix: Street State: FL Zip Code: 32433 County: Walton Parcel ID: 19-3N-19-19390-006-0012

Property Features

Class: Mobile/Trailer Park Construction Status: Existing
Listing Office: Iron Horse Realty Of Nw Florid
Last Updated: October - 11 - 2024
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