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Lillian & Hobbs RV and Mobile Home Park Portfolio

Mobile Home Park | $34,821/pad

Listing Contacts

Active

Asking Price: $975,000
Address (2 locations)

4501 Lillian Hwy, Pensacola, FL 32506

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915 N Old Corry Field Rd, Pensacola, FL 32506

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Date Added
Mar 4, 2024
Days on Market
381 days
Time Since Last Update
20 days

Details

Property TypeMobile Home Park
Investment TypeValue Add
ClassC
Pro-Forma Cap Rate9.14%
Occupancy93%
Units28
Lot Size (acres)3.05
Price/Pad$34,821.42

Marketing Description

Stirling Properties is pleased to present for sale this 2-park portfolio located in West Pensacola, Florida.​ These parks are centrally located within half a mile of each other allowing for ease of management and operational efficiencies.​ They are positioned close to Downtown Pensacola and are walking distance of several employers and national retailers including Lowes, Home Depot, and Walmart among others.​

Lillian Mobile Home & RV Park consists of 16 lots and one stick-built home on public water and sewer.​ There are submeters in place at Lillian that are not being used by the Seller, which would allow a Buyer the ability to bill back water immediately.​ Hobbs Mobile Home & RV Park consists of 10 lots and one stick-built home that are serviced by public water (master meter) and septic tanks.​ As evidenced by the rent roll, both parks feature tenants with below-market rents, leaving easy upside for a Buyer.​ There are three rent-to-own contracts (RTOs) that will be transferred with the sale, as well as one park-owned RV.​ Electric is individually metered and paid directly by tenants; each park has a dumpster that is paid for by the park.​

Investment Highlights

Centrally Located in Pensacola Florida

Stabilized Portfolio with Value Add Opportunity

Located in a strong growing Florida MSA

Over 85% of the units are Tenant Owned

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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

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Listing Contacts


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