Gator MH Park

6542 Us Highway 441 Se, Okeechobee, FL

16.34% return

SP: $399,900

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Property Description

DISCOUNTED INVESTMENT PROPERTY. Beautiful waterfront mobile home and RV park!!! Property consists of 26 rental units: 16 mobile home lots, 1 park-owned mobile home and 9 RV lots. Separate electric meters. Well and septic system in place. Boat parking available and can be rented for additional income. All parks in the area have 100% occupancy at $400+/month on each lot. This park will generate $90,000+ with all units rented at $300+/month. Additional $10,000 to $20,000 can be generated from slip rentals. Very inexpensive property to own and operate. Beautiful view. Priced at a discount for a quick sale. Value add opportunity or long term hold. Perfect for retirement and fishing lifestyle. Potential to add more spaces.

Property Information

Listing statusSold
Property typeMulti Family
Total units26
Total bedrooms52
Total bathrooms26
Building size15600 sq. ft.
Lot size2.9 acres
Year built1950

CountyOkeechobee County
Subdivision
ConstructionFrame
RoofFlat
Water sourceWell
Water disposalSeptic
HeatingWindow Unit
CoolingWindow A/C

Property Financial Summary

Sale price$399,900
Estimated rehab¹$30,000
Total investment$429,900

TypeProforma

Gross income (annually)$93,600
Operating expenses (annually)$23,366
Net income (annually)$70,234
Gross return21.77%

Gross income (monthly)$7,800
Operating expenses (monthly)$1,947
Net income (monthly)$5,853
Net return16.34%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$300/month$3,600/year
Unit 2: 2 bed / 1 bath$300/month$3,600/year
Unit 3: 2 bed / 1 bath$300/month$3,600/year
Unit 4: 2 bed / 1 bath$300/month$3,600/year
Unit 5: 2 bed / 1 bath$300/month$3,600/year
Unit 6: 2 bed / 1 bath$300/month$3,600/year
Unit 7: 2 bed / 1 bath$300/month$3,600/year
Unit 8: 2 bed / 1 bath$300/month$3,600/year
Unit 9: 2 bed / 1 bath$300/month$3,600/year
Unit 10: 2 bed / 1 bath$300/month$3,600/year
Unit 11: 2 bed / 1 bath$300/month$3,600/year
Unit 12: 2 bed / 1 bath$300/month$3,600/year
Unit 13: 2 bed / 1 bath$300/month$3,600/year
Unit 14: 2 bed / 1 bath$300/month$3,600/year
Unit 15: 2 bed / 1 bath$300/month$3,600/year
Unit 16: 2 bed / 1 bath$300/month$3,600/year
Unit 17: 2 bed / 1 bath$300/month$3,600/year
Unit 18: 2 bed / 1 bath$300/month$3,600/year
Unit 19: 2 bed / 1 bath$300/month$3,600/year
Unit 20: 2 bed / 1 bath$300/month$3,600/year
Unit 21: 2 bed / 1 bath$300/month$3,600/year
Unit 22: 2 bed / 1 bath$300/month$3,600/year
Unit 23: 2 bed / 1 bath$300/month$3,600/year
Unit 24: 2 bed / 1 bath$300/month$3,600/year
Unit 25: 2 bed / 1 bath$300/month$3,600/year
Unit 26: 2 bed / 1 bath$300/month$3,600/year
Total$7,800/month$93,600/year

Expenses

Property Taxes$427/month$5,126/year
Insurance$208/month$2,500/year
Electric bill$242/month$2,900/year
Waste Collection$242/month$2,900/year
Lawn care$120/month$1,440/year
Property Management$708/month$8,500/year
Total$1,947/month$23,366/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.