Lillian & Hobbs MHP/RV Portfolio | 915 N Old Corry Field Rd
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Lillian & Hobbs MHP/RV Portfolio 915 N Old Corry Field Rd
28 Unit Mobile Home Park $1,386,450 CAD ($49,516 CAD/Unit) 9.14% Cap Rate Pensacola, FL 32506
Investment Highlights
- Centrally Located in Pensacola Florida
- Located in a strong growing Florida MSA
- Stabilized Portfolio with Value Add Opportunity
- Over 85% of the units are Tenant Owned
Executive Summary
Beck Partners is pleased to present for sale this 2-park portfolio located in West Pensacola, Florida. These parks are centrally located within half a mile of each other allowing for ease of management and operational efficiencies. They are positioned close to Downtown Pensacola and are walking distance of several employers and national retailers including Lowes, Home Depot, and Walmart among others.
Lillian Mobile Home & RV Park consists of 16 lots and one stick-built home on public water and sewer. There are submeters in place at Lillian that are not being used by the Seller, which would allow a Buyer the ability to bill back water immediately. Hobbs Mobile Home & RV Park consists of 10 lots and one stick-built home that are serviced by public water (master meter) and septic tanks. As evidenced by the rent roll, both parks feature tenants with below-market rents, leaving easy upside for a Buyer. There are three rent-to-own contracts (RTOs) that will be transferred with the sale, as well as one park-owned RV. Electric is individually metered and paid directly by tenants; each park has a dumpster that is paid for by the park.
Lillian Mobile Home & RV Park consists of 16 lots and one stick-built home on public water and sewer. There are submeters in place at Lillian that are not being used by the Seller, which would allow a Buyer the ability to bill back water immediately. Hobbs Mobile Home & RV Park consists of 10 lots and one stick-built home that are serviced by public water (master meter) and septic tanks. As evidenced by the rent roll, both parks feature tenants with below-market rents, leaving easy upside for a Buyer. There are three rent-to-own contracts (RTOs) that will be transferred with the sale, as well as one park-owned RV. Electric is individually metered and paid directly by tenants; each park has a dumpster that is paid for by the park.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $1,386,450 CAD | Property Type | Multifamily |
| Price Per Unit | $49,516 CAD | Property Subtype | Manufactured Housing/Mobile Home |
| Sale Type | Investment | Lot Size | 1.48 AC |
| Cap Rate | 9.14% | Average Occupancy | 93% |
| Sale Conditions | Bulk/Portfolio Sale | No. Stories | 1 |
| No. Units | 28 | Year Built | 1985 |
| Price | $1,386,450 CAD |
| Price Per Unit | $49,516 CAD |
| Sale Type | Investment |
| Cap Rate | 9.14% |
| Sale Conditions | Bulk/Portfolio Sale |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Lot Size | 1.48 AC |
| Average Occupancy | 93% |
| No. Stories | 1 |
| Year Built | 1985 |
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PROPERTY TAXES
| Parcel Number | 34-2S-30-0300-003-030 | Improvements Assessment | $197,599 CAD |
| Land Assessment | $67,006 CAD | Total Assessment | $264,606 CAD |
PROPERTY TAXES
Parcel Number
34-2S-30-0300-003-030
Land Assessment
$67,006 CAD
Improvements Assessment
$197,599 CAD
Total Assessment
$264,606 CAD
zoning
| Zoning Code | MDR |
| MDR |
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Lillian & Hobbs MHP/RV Portfolio | 915 N Old Corry Field Rd
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