Investment Income Property / Mobile Home Park

Multi-Family for Sale
Catylist Listing ID: 30848497
Property Subtypes: Mobile Home Park
Number of Units: 8 Units
Building Size (RSF): 1 SF
Gross Building Area: See Agent
Sale Price: $339,000
Unit Price: $42,375 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2023

Overview / Comments

The subject property is a rectangular shaped parcel having 60 feet frontage on the east side of North 69th Avenue with a depth of 762 feet, containing 1.00 +/- acres, more or less. Site dimensions were taken from the Escambia County Property Appraisers Plat Map. The land is level, at road grade, with drainage considered adequate. The soil is sandy and suitable for development as evident by the subject and surrounding structures. All public and private utilities are on site. North 69th Avenue is a major north/south thoroughfare, connecting Lillian Highway from the south to West Fairfield Drive to the north.

Quiet Oak Mobile Home Park features 8 rentable lots 6 of which are rented to mobile home owners and 2 existing mobile homes are owned by the park. Of the 2 mobile homes owned by the park 1 is rented and the 2nd is in need of renovation / repair in order to be rented. The units located on lots 5 & 6 are owned by the Mobile Home Park. Current Annual Gross Income is $50,000. and represents 6.78 times earnings. Each of the 8 lots is separately metered by Florida Power & Light and electric service is established by each tenant. Water and Sewer service is handled by ECUA and is billed to the Management company who then bills each tenant separately and is in addition to the monthly lot rental. Trash pickup is contracted to Republic Services at a current cost of $127.90 per month and is divided and billed to each tenant in addition to the monthly lot rental. Tenants are currently on month to month lease with a 30 day notice required to vacate.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 112S311408000000
Zoning: MDR
Zoning Description: MDR (Medium Density Residential)
Lot Frontage: 726
Lot Depth: 60
Water Service: Municipal
Sewer Type: Municipal
Legal Description: BEG 870 FT N OF SW COR OF LT 1 N 60 FT E 726 FT S 60 FT W 726 FT TO POB OR 8565 P 100

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,734 63,737 131,262
Median Age: 37.9 35.42 35.93
Households: 3,177 24,416 48,366


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