1025 W Socrum Loop Rd - Manufactured Housing/Mobile Housing FOR SALE


Lakeland, FL 33809- City of Lakeland
$650,000 USD
863-272-7135
1025 W Socrum Loop Rd, Lakeland, FL for Sale
$650,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/19
null | 8.31% Cap Rate

1025 W Socrum Loop Rd
Lakeland, FL 33809
City of Lakeland


HIGHLIGHTS

  • This unique investment provides 9 mobile homes in Lakeland, Florida, at 1025 W Socrum Loop (7 homes) and 711 Nashville Road. (2 homes).
  • Unit 7 at 1025 W Socrum Loop is currently vacant, but ready to rent, and units 2,3, 6 and 7 are fully renovated.
  • There are no titles for the homes, with all structures Retired to the Park (RP'D), which means they cannot be sold or moved, but can be replaced.
  • Landlord carries general liability insurance, tenants pay electric, and water is paid for by the landlord and included in the rent.
  • The portfolio’s proforma numbers are very strong, with a 13.61% cap rate and almost $10,000 in monthly income.

OVERVIEW

This sale encompasses two addresses, at 1025 W Socrum Loop Road and 711 Nashville Road. Please see the attached property brochure for photos and financial information. The current owner will consider holding a note. 1025 W Socrum Loop includes seven mobile homes at US 98 North and West Socrum Loop Road. There is a tremendous amount of upside to this asset, as four units have been newly renovated with only one unit vacant, to be leased soon. 711 Nashville Road is at Old Tampa Highway and Memorial Boulevard and offers two existing homes. The current owner purchased the two assets and has been renovating the units. There is an upside to the below-market rentals, which are a holdover from the time of purchase. The proforma scenario represents a 13.61% cap rate with conservative pro-forma rent expectations at $116,900.

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$147 USD /SF

# OF UNITS

9

PRICE/UNIT

$72,222

CAP RATE

8.31%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multifamily Opportunity 9 Homes w/ Upside

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,512 SF

ZONING

RL - 4

APN/PARCEL ID

23-27-12-000000-033120

ASK ABOUT THIS PROPERTY

Eric AmmonSaunders Real EstateMore Info
863-272-7135

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Eric AmmonSaunders Real EstateMore Info
863-272-7135

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.