Okeechobee MHP/RV 175 Unit Portfolio 4 Properties Offered at $9,000,000 in Okeechobee, FL

Media Realty & Advisors has been appointed exclusive agent for the disposition of four VALUE-ADD mobile home parks in Okeechobee, FL. The parks are located in close proximity to one another with two parks, Dew Drop and Okeechobee Lake, being contiguous. Combined these parks represent 175 pads. Ownership has recently experienced a shift in motivation and has aggressively reduced the asking price, creating a compelling entry point for investors seeking immediate cash flow with future upside in a supply-constrained submarket.
There is a positive and growing appetite to acquire mobile home parks in Okeechobee, Florida, driven by several compelling market dynamics:
Affordable Housing Demand; Mobile home parks offer a low-barrier entry to homeownership or rental, making them increasingly attractive in markets like Okeechobee where affordable housing options are limited.
**Rising housing costs in South and Central Florida are pushing investors to target tertiary markets like Okeechobee for yield and long-term stability. Interest in Stable, Cash-Flowing Assets; Mobile home parks are viewed as recession-resistant with low turnover and high occupancy rates. Institutional and private investors alike are drawn to the high cap rates typically found in smaller Florida markets compared to metro areas.
**Local Market Appeal; Okeechobee has a growing retiree and seasonal population, ideal for mobile home living. The city benefits from proximity to Lake Okeechobee and recreation areas, making it attractive for both permanent residents and snowbirds.
**Low Operational Costs; Compared to multifamily, MHPs often have lower management and maintenance overhead, especially when tenant-owned homes are prevalent.
This appeals to value-add investors looking to optimize operational efficiencies.
**Investor Interest: High Yield Potential: Compared to traditional multifamily assets, mobile home parks (MHPs) often offer superior cap rates, with many investors targeting higher cap rate in tertiary markets like Okeechobee.
**Value-Add Opportunities: Pad Upgrades & Utility Infrastructure: Investors see value in increasing lot counts, upgrading septic and water systems, and billing utilities back to tenants. Thus is the case for the portfolio offered.
Highlights of the individual Parks
**Cloverport Mobile Home Park; 7650 Highway 78 W. Okeechobee is located minutes from Lake Okeechobee, Kissimmee River and downtown Okeechobee (2.7 miles) with its dining and shopping, & less than 6 miles from the up-and-coming Bass Pro Resort at 10430 W Highway 78.
Cloverport Mobile Home Park is a 27 lot/pad and one CBS studio apartment complex with laundry facilities rented on an annual basis. And sits on over 2.5 acres, with three entrances, sub-metered public water & septic. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. Water expense is passed through to the tenant's owner mobile homes. There are 5 brand 560 SF new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1200 per month. The value-add lies in leasing the 6 vacant pads or installing new MH's at a cost of approx. $58,000 per unit providing a 9.5%-10% cap rate with an investment estimated at $348,000.
**Dew Drop Mobile Home Park; 8791 Highway 78 W., Okeechobee sits on 3.9 acres and contains 57 pads with one folio.
The park consists of lot rents only as each mobile home is tenant owned. The MHP is less than 5 miles to the central Business district of downtown Okeechobee
**Okeechobee Lake Mobile Home Park; 8951 Highway 78 W., Okeechobee contains 66 pads (lot rent only). This park is contiguous to Dew Drop Mobile Home Park and together they have a combined 126 pads. The park consists of lot rents only as each mobile home is tenant owned. The MHP is less than 5 miles to the central Business district of downtown Okeechobee. The park has one folio number.
** Palm Drive Trailer Park; 3307 and 3611 SE 36th Ave; Okeechobee
The property possesses two folio numbers and is situated on a canal with access to Lake Okeechobee. The park has 24 pads and collects rent for lot rent only.