Tampa, FL 7 Unit Mobile Home Park

Here is the rare opportunity to pick up a turn key Mobile Home Park in Lutz, FL!

Address: Message Me
Purchase: $399,900
Current Rents: $4,800
Pro Forma: $6,000+

1904 N. Mobile Villa Dr., Lutz, FL 33549
2 bed / 1 bath 672 sq ft
Sold 04/17/20

14611 N. 16th St., Lutz, FL 33549
2 bed / 1 bath 552 sq ft
Sold 03/12/21​

RENTAL COMP 15203 N. 17th St. Unit #17, Lutz, FL 33549
2 bed / 1 bath 700 sq ft
Sold 03/18/20

RENTAL COMP 15203 N. 17th St., #25; Lutz, FL 33549
2 bed / 1 bath 800 sq ft
Sold 07/03/20

The park consists of seven tenant occupied mobile homes. It features five two-bedroom, one-bathroom units, and two one-bedroom, one-bathroom units. The current rental income amounts to $4,800 per month. The tenants all pay their own electricity and the park is on well and septic. The owner currently pays $65.00 per month for electricity in common areas. There are two septic tanks that are serviced regularly and there is a large storage shed that also conveys with the property. There are new roofs on all of the units except for units “D” and "F, which have metal roofs. This park has been self-managed with long-term tenants that are currently on month-to-month leases. With some light updating, there is an opportunity to increase the average rents from under $700 per month to the $900 per month range. We recommend the new owner address anything that needs immediate attention, then cash flow these units with minimal expense until turning the units over for new tenants. As each unit turns over, remodel them and increase the rents one by one.