SOLD: 17-unit Mobile Home Park with House

Cocoa, FL (12/2012) Mike Fry of KW Commercial sold the Fontana Cove mobile home property. The property consisted of 17 units with a house. It was a Bank REO property. The transaction closed within 50 days and was an all cash closing. Asking price was $239,000, purchase price of $200,000 with a 10% cap rate on existing income, 80% occupancy. There were multiple cash backup offers.