Driftwood Mobile Home Park
$48,659/pad
Marketing description
Driftwood MHP is a stabilized, high-demand lakefront community on Pine Flat Lake, supported by long-term tenancy and historically strong occupancy. The property offers immediate revenue upside through the first rent increase in 5+ years and the potential to reopen the on-site store for groceries, supplies, and recreational rentals. Private well and septic systems help maintain low operating expenses.
With a proforma 8.57% cap rate, clear value-add opportunities, and seller financing available, Driftwood MHP presents an attractive acquisition of a rare waterfront asset with strong fundamentals and multiple growth drivers.
Investment highlights
Strong Seller Financing: The seller is open to financing and creative terms to support the buyer.
Below Market Rents: Rents have not been increased in last 5+ years, room to increase rents to market rates.
Infilling Vacant Sites: Installation of Park Models, and improve management to capitalize on rents in peak seasons
Modernizing Management: Proper marketing and utility bill backs will sufficiently improve the bottom line throughout peak seasons
Utilities: Consistent meter reads will improve the parks revenue and decrease expenses
Turnaround Opportunity: Deferred convenience store has the potential to bring in sufficient revenue especially during peak seasons
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