South Lakeland Multi Family | 6065 Bay Ave
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South Lakeland Multi Family 6065 Bay Ave
13 Unit Mobile Home Park £809,875 (£62,298/Unit) 8.98% Net Initial Yield Highland City, FL 33846
INVESTMENT HIGHLIGHTS
- Property brochure attached with all details. 6 Mobile Homes & 7 Single Family Homes on 1.52 acres and one tax parcel.
- Florida Mobile Home Registry lists the park under Pa Pa Bear's Mobile Home Park. License 53-54-2165884
- Clean full income and expenses, (incl. capex) provided with agreed upon contract. Additional unit photos available, if needed.
- All mobile homes are park owned, and have titles. MH ages range between 1972-1990.
- City water and electricity. Septic site map available. Tenants pay utilities direct. Owner pays Coastal Waste & Recycling bill.
- Okay to drive by, please do not disturb the tenants. ** No owner financing available **
EXECUTIVE SUMMARY
TREMENDOUS INCOME OPPORTUNITY! SEE ATTACHED PROPERTY BROCHURE.
TREMENDOUS INCOME OPPORTUNITY! Located in one of the fastest growing areas of South Lakeland, this is multifamily development, consisting of 6 park owned mobile homes, and 7 single family (small) homes. The six mobile homes are part of the Florida Mobile Home Registry under Pa-pa Bears Mobile Home park. The other 7 homes are part of the same parcel - each have a separate mailing address. Current annual income of $137,780 with upside to grow to another 10% quickly.
Lakeland and Polk County are among the fastest growing places in the U.S., as the City sits in the middle of Tampa and Orlando on the I-4 corridor. In the immediate area, new apartment developments have been built, and several shopping areas, including Publix, across the street. There are primary, middle and high schools very close by, and the main thoroughfare, US 98 stretches from the north side of Lakeland to the south side.
The annual rental income is $138,780, and all expenses are detailed and accounted for, giving us a current cap rate of 9%
TREMENDOUS INCOME OPPORTUNITY! Located in one of the fastest growing areas of South Lakeland, this is multifamily development, consisting of 6 park owned mobile homes, and 7 single family (small) homes. The six mobile homes are part of the Florida Mobile Home Registry under Pa-pa Bears Mobile Home park. The other 7 homes are part of the same parcel - each have a separate mailing address. Current annual income of $137,780 with upside to grow to another 10% quickly.
Lakeland and Polk County are among the fastest growing places in the U.S., as the City sits in the middle of Tampa and Orlando on the I-4 corridor. In the immediate area, new apartment developments have been built, and several shopping areas, including Publix, across the street. There are primary, middle and high schools very close by, and the main thoroughfare, US 98 stretches from the north side of Lakeland to the south side.
The annual rental income is $138,780, and all expenses are detailed and accounted for, giving us a current cap rate of 9%
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£107,042
|
£14.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£3,211
|
£0.43
|
| Effective Gross Income |
£103,831
|
£13.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£31,115
|
£4.19
|
| Net Operating Income |
£72,716
|
£9.80
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £107,042 |
| Annual Per SF | £14.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £3,211 |
| Annual Per SF | £0.43 |
| Effective Gross Income | |
|---|---|
| Annual | £103,831 |
| Annual Per SF | £13.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | £31,115 |
| Annual Per SF | £4.19 |
| Net Operating Income | |
|---|---|
| Annual | £72,716 |
| Annual Per SF | £9.80 |
PROPERTY FACTS
UNIT AMENITIES
- Yard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 3 | - | 624 |
| 1+1 | 6 | - | 360 - 552 |
| 2+1 | 3 | - | 528 - 588 |
| 3+1.5 | 1 | - | 924 |
PROPERTY TAXES
| Parcel Number | 24-29-14-283000-070210 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £340,786 |
PROPERTY TAXES
Parcel Number
24-29-14-283000-070210
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£340,786
ZONING
| Zoning Code | RL-4 (RL-4 Unincorporated Polk County) |
| RL-4 (RL-4 Unincorporated Polk County) |
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South Lakeland Multi Family | 6065 Bay Ave
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