SOLD: Haines City Mobile Home Park, 85 Units for $1,812,500 in Polk County, FL

Polk County, FL (02/2013) —Mike Fry of KW Commercial sold Haines City Mobile Home Park in Polk County, FL for $1,812,500. The 85 Unit Mobile Home Park featured the following highlights:

Deal Points –

·         Stabilized Property 100% Occupancy

·         Below Market Rents with Substantial Upside

·         Closed within 28 Days of Executed Purchase Contract

·         Buyer Received New Loan of 80% Loan to Value

Investment Highlights –

·         55+ Community

·         Price: $1,812,500

·         Price Per Unit: $21,323

·         Current Cap Rate: 9+%

·         100% Single Wides on Large Lots

·         4 Apartments

·         Utilities: Treatment Plant, Well Water