Historical Multifamily Sale Listing - Sunny Ridge Mobile Home Park

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Sunny Ridge Mobile Home Park

1002 Locke Street, Avon Park, FL 33825

N/A

49 Spaces | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Spaces:
49
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Distressed:
Yes
Gross Rent Multiplier:
4.46
No. Stories:
1
Lot Size:
2.50 AC
Listing ID
18051422
Last Updated
365 days ago

Highlights

  • Bank REO Substantial Value Ad Opportunity w/ lease up
  • Includes 38 Park Models purchased new in 2007
  • Located in the heart of Central Florida, minutes from all Disney Attractions
  • Easy investment to manage for first time or absentee owner
  • 2010 Appraisal for $1.4mm
  • Attractive financing available via local lenders

Description

SELLER SEEKING ALL REASONABLE CASH OFFERS! Sunny Ridge Mobile Home Park is a 49-unit manufacture home rental park with city sewer and water. It is a distressed asset and was recently foreclosed on by a local lender. Its Unit Mix is 38 park-owned units and 13 Tenant Owned.

The Park Models were purchased new in 2007 and permanently installed in the park. The park models are wood frame, asphalt shingle roofs, vinyl lap siding and vinyl skirting surrounds. All windows are double hung vinyl/aluminum. Each structure has central electric heating and air conditioning. Interior walls and ceilings are drywall. The interior floor plan has one bedroom, a bath, kitchen, and living/dining area.

Each of the park units are 12 foot wide and range in lengthy between 32 and 35 feet. The typical unit is about 385 square feet of area with a 70 square foot covered front porch. Each of the homes has individual metering for electricity. Each of the home sites range in width between 20 and 30 feet and are at least 40 feet in depth.

PLEASE DO NOT TOUR THE PARK WITH OUT CONTACTING THE BROKER IN ADVANCE AND COMPLETING A CONFIDENTIALITY AGREEMENT-Thank you.

The property is situated on two parcels across the street from each other. The 1.49-acre parcel is located at 1002 Locke Street and contains 29 lots of which 14 contain new park model manufactured homes. The 32,400 square foot parcel (.74 acres) located on the South side of Locke Street, has 20 lots, of which 19 are park model one bedroom one bath manufactured dwellings.
That property has a site address by the Highlands County Property Appraiser' s Office at 1037 Chicago Bulls Street, Avon Park, Florida 33865

Map of 1002 Locke Street, Avon Park, FL 33825 (Highlands County)

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Created 2/28/2013