3731 State Road 60 E | Lake Wales, FL 33898
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- LoopNet Team
3731 State Road 60 E
Lake Wales, FL 33898
Spring Lake Estates Mobile Home Park · Multifamily Property For Sale
·
3,615 SF
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.
Property Facts
| No. Units | 35 | Lot Size | 6.30 AC |
| Property Type | Multifamily | Building Size | 3,615 SF |
| Property Subtype | Manufactured Housing/Mobile Home | Average Occupancy | 94% |
| Apartment Style | Low-Rise | No. Stories | 1 |
| Building Class | C | Year Built | 1965 |
| Zoning | RC - Residential | ||
| 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 |
| Zoning | RC - Residential |
Property Taxes
| Parcel Number | 28-30-04-000000-044120 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,010,595 |
Property Taxes
Parcel Number
28-30-04-000000-044120
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,010,595
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