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Spring Lake Estates Mobile Home Park 3731 State Road 60 E 35 Unit Mobile Home Park $2,850,000 ($81,429/Unit) 8.40% Cap Rate Lake Wales, FL 33898
INVESTMENT HIGHLIGHTS
- Turnkey, High-Occupancy Asset – 35 total units (30 mobile home lots, 5 apartments), 94% occupied with 29 tenant-owned homes on 6.3 acres.
- Attractive Financials – Projected Year 1 NOI of $222,815, 34% expense ratio, and 8.40% cap rate.
- Prime Growth Location – Lake Wales, FL (Polk County), within the Lakeland–Winter Haven MSA, one of the fastest-growing regions in the U.S.
- Immediate Upside Opportunity – Below-market lot rents ($660/month) with room for increases and utility bill-backs.
- Rent Growth Potential – Local comps up to $900/month validate upside in rental income.
- Robust Economy & Housing Demand – Anchored by major employers and strong manufacturing base, driving demand for affordable housing.
EXECUTIVE SUMMARY
Kyle Matthews
License # CQ1066435 (FL)
Matthews Real Estate Investment Services
1600 West End, Ste. 1500 Nashville, TN 37203
License # CQ1066435 (FL)
Matthews Real Estate Investment Services
1600 West End, Ste. 1500 Nashville, TN 37203
PROPERTY FACTS
| Price | $2,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $81,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 6.30 AC |
| Cap Rate | 8.40% | Building Size | 3,615 SF |
| No. Units | 35 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 1965 |
| Price | $2,850,000 |
| Price Per Unit | $81,429 |
| Sale Type | Investment |
| Cap Rate | 8.40% |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 6.30 AC |
| Building Size | 3,615 SF |
| Average Occupancy | 94% |
| No. Stories | 1 |
| Year Built | 1965 |
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(949) 287-5862
x816
CONTACTS
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Arthur Varela -
Kevin Puder -
Chad Kurz -
Matthews Real Estate Investment Services
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Spring Lake Estates Mobile Home Park | 3731 State Road 60 E
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