232 NW Johnson St, Lake City, FL 32055

This offering consists of a 10-unit park-owned manufactured housing portfolio presented by The Apartment King, located across two closely positioned communities in Lake City, Florida: Ruby Mobile Home Park and Country Club Estates.

The assets are situated within approximately four miles of each other, creating operational efficiency and allowing for streamlined management within a single submarket.

The portfolio is being offered at $625,000 ($62,500 per unit) and currently generates approximately $106,500 in annual in-place income, equating to an 11.08% day-one capitalization rate.

From an operational standpoint, the asset benefits from a low-maintenance expense structure, as tenants are responsible for utilities. One community is serviced by city water and sewer, while the second operates on a well and septic system, further contributing to predictable operating costs.

Importantly, the properties have no room for expansion or the addition of additional homes, providing investors with a stabilized, fixed-unit footprint and eliminating development or densification risk.

No seller financing is available.

Located at the convergence of Interstate 75 and Interstate 10, Lake City functions as a regional employment and logistics hub in North Florida, supporting consistent demand for affordable housing and reinforcing long-term occupancy stability.

Overall, the portfolio offers a rare combination of immediate cash flow, light operational complexity, and defined, non-expandable asset characteristics, with near-term rent growth potential driven by market alignment.