3731 State Road 60 E - Manufactured Housing/Mobile Housing FOR SALE
Lake Wales, FL 33898 |
$2,850,000 USD
949-287-5862
3731 State Road 60 E
Lake Wales, FL 33898
HIGHLIGHTS
- Turnkey, High-Occupancy Asset – 35 total units (30 mobile home lots, 5 apartments), 94% occupied with 29 tenant-owned homes on 6.3 acres.
- Immediate Upside Opportunity – Below-market lot rents ($660/month) with room for increases and utility bill-backs.
- Attractive Financials – Projected Year 1 NOI of $222,815, 34% expense ratio, and 8.40% cap rate.
- Rent Growth Potential – Local comps up to $900/month validate upside in rental income.
- Prime Growth Location – Lake Wales, FL (Polk County), within the Lakeland–Winter Haven MSA, one of the fastest-growing regions in the U.S.
- Robust Economy & Housing Demand – Anchored by major employers and strong manufacturing base, driving demand for affordable housing.
FOR SALE DETAILS
PRICE
$2,850,000 USD
PRICE/SF
$788 USD /SF
# OF UNITS
35
PRICE/UNIT
$81,429
CAP RATE
8.4%
% LEASED
94%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Spring Lake Estates Mobile Home Park
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Manufactured Housing/Mobile Housing
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1965
PARKING SPACES
-
LAND DETAILS
LAND ACRES
6.3 AC
LAND SF
274,428 SF
ZONING
-
APN/PARCEL ID
28-30-04-000000-044120
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949-287-5862
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949-287-5862
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