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


Lakeland, FL 33809- City of Lakeland
$675,000 USD
863-581-0059
1025 W Socrum Loop Rd, Lakeland, FL for Sale
$675,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/20
null | 8% Cap Rate

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


HIGHLIGHTS

  • 9 mobile homes at two different locations in Lakeland - 1025 W Socrum Loop (7 homes) & 711 Nashville Road. (2 homes)
  • 1025 W Socrum Loop - 1.49 AC. This is a state registered park - "McCoy's Place" 53-54-00292. 7 allowable units.
  • Unit 7 at 1025 W. Socrum Loop is currently vacant, but ready to rent. Units 2,3, 6 and 7 at 1025 W Socrum Loop fully renovated.
  • No titles for the homes - all structures Retired to the Park (RP'D), which means they cannot be sold or moved. However, they can be replaced.
  • All Tenants pay their own electric. Water is paid for by the Landlord and is included in the rent. Landlord carries General Liability insurance only
  • Proforma numbers very strong. 13.61% cap rate and almost $10,000 in monthly income.

OVERVIEW

PLEASE SEE ATTACHED PROPERTY BROCHURE FOR PHOTOS AND FINANCIAL DETAILS! This sale encompasses two addresses, in two different parts of town. On the northside of Lakeland are 7 mobile homes located at US 98 North and West Socrum Loop Road. The second location is at Old Tampa Hwy and Memorial Blvd. This location has two homes. The current owner purchased the two assets and has been renovating the units. There is a tremendous amount of upside with this asset, as 4 units have been newly renovated with only 1 unit vacant, to be leased soon. There is upside with the under 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 expectation at $116,900.

FOR SALE DETAILS

PRICE

$675,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

9

PRICE/UNIT

$75,000

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multifamily Opportunity 9 Homes w/Huge 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

Craig MorbySaunders Real EstateMore Info
863-581-0059

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Craig MorbySaunders Real EstateMore Info
863-581-0059

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