119 SW Joyful Loop - Manufactured Housing/Mobile Housing FOR SALE


Lake City, FL 32024
$725,000 USD
305-987-6628
119 SW Joyful Loop, Lake City, FL for Sale
$725,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/2
null | 7.25% Cap Rate

119 SW Joyful Loop
Lake City, FL 32024


HIGHLIGHTS

  • Shady Oaks Mobile Home Park is a 13-unit, fully park-owned community offering stable cash flow in Lake City, Florida.
  • The property is projected to be fully occupied at closing, with a rent roll increase from $7,900 to $9,400 per month.
  • The park benefits from a newly installed well and existing septic system, keeping utility costs low.
  • Operated by the same owner for nearly eight years, fostering long-term, quality tenants.
  • Located less than two miles from I-75 and downtown Lake City, offering excellent access and convenience.
  • Positioned in a quiet, rural setting near major employers, hospitals, schools, and Gateway City College.

OVERVIEW

ComReal is pleased to exclusively present the opportunity to acquire Shady Oaks Mobile Home Park, an income-producing manufactured housing community located in Lake City, Florida. This well-maintained park consists of 13 park-owned homes and represents an ideal investment opportunity for an individual investor seeking stable cash flow in one of Florida’s fastest-growing markets. The current ownership has operated the park for nearly eight years, fostering long-term, quality tenants who are currently paying rents approximately 25% below market levels. Shady Oaks benefits from a newly installed well and existing septic system, allowing for low utility costs and increased net operating income. Two homes are nearing completion of renovation, and the property will be delivered fully occupied at closing. Upon completion, the monthly rent roll is projected to increase from $7,900 to $9,400. The community is situated in a quiet, rural setting with excellent accessibility. It is located less than two miles from I-75 and downtown Lake City. The surrounding area includes major retailers, hospitals, schools, a golf course, and Gateway City College. Lake City, known as the “Gateway to Florida,” is one of the state’s fastest-growing regions due to its pro-business environment, favorable tax climate, and strategic location at the intersection of I-75 and I-10. The city serves as a key connection between Jacksonville and Tallahassee and is experiencing growth in logistics, aviation, and service industries. Major employers in the area include AdventHealth, UF Health, HAECO Aviation Services, Packaging Corporation of America, Steel Dynamics, and Frito-Lay. With strong demand for affordable housing in the region, Shady Oaks Mobile Home Park is well-positioned to capture ongoing rent growth while maintaining full occupancy into the future.

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

13

PRICE/UNIT

$55,769

CAP RATE

7.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shady Oaks

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.16 AC

LAND SF

94,090 SF

ZONING

MH Park (2802)

APN/PARCEL ID

04-4S-16-02772-058

ASK ABOUT THIS PROPERTY

Mort FetterolfComReal Miami – Doral, LLCMore Info
305-987-6628

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Mort FetterolfComReal Miami – Doral, LLCMore Info
305-987-6628

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