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.
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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 |
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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The information presented herein is provided as is, without warranty of any kind.
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