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UPDATED:
11/26/2024 02:39 PM
Key Details
Property Type Multi-Family, Commercial
Sub Type Income/Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID F10449471
Construction Status Resale
HOA Y/N No
Total Fin. Sqft 108900
Year Built 1984
Property Description
Cloverport MHP is located minutes from Lake Okeechobee, Kissimmee River and downtown Okeechobee with its dining and shopping, and less than 6 miles from the up-and-coming Bass Pro Resort.
The park is a 27 lot/pad and 1 CBS studio apt. complex with laundry facilities. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. the complex sits on over 2.5 acres, with three entrances and sub-metered public water & septic.
There are 5 brand new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1400 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.
The park is a 27 lot/pad and 1 CBS studio apt. complex with laundry facilities. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. the complex sits on over 2.5 acres, with three entrances and sub-metered public water & septic.
There are 5 brand new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1400 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.
Location
State FL
County Okeechobee County
Area Ok40
Zoning RR
Interior
Heating Central Individual A/C
Cooling Central Individual A/C
Exterior
Water Access N
Private Pool No
Building
Sewer Public Sanitation
Water Public Water
Construction Status Resale
Others
Pets Allowed No
Ownership Corporation
Acceptable Financing Cash
Listing Terms Cash
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Listed by Media Realty
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Milton Knight, CRS
Principal Real Estate Broker | License ID: 0663675
Principal Real Estate Broker License ID: 0663675