Coquina Oaks Mobile Home Park
Mobile Home Park with RS-3 Zoning
Marketing description
A unique opportunity to purchase a potential cash cow in one of the fastest-growing markets in Florida. This sale includes the land, 25 mobile homes, and one storage trailer.
The property currently operates as a cash-flowing mobile home park, presenting the buyer with the chance to continue operations, expand with new homes, or redevelop in stages while collecting income on the remaining homes. The property consists of 2.5 acres, all zoned residential (RS-3), which can also accommodate other residential uses.
This property is conveniently located near St. Augustine's famous Historic District, fine dining and casual restaurants, and many other retailers and sightseeing.
This property is located in the beautiful and ever-growing St. Augustine, Florida. Located just a couple of blocks off of King Street, which connects to the Nationwide-famous St. Augustine Historic District and beach vacation hotspots in Anastasia Island. This property offers an ideal central location to many major employers, including Flagler Hospital, Flagler College, and too many restaurants and retail shopping destinations to mention.
This is a tropical living paradise that offers everything a person needs in less than a 5-mile radius, whether it be low-key living or vacation partying; everything you could imagine is within a casual bike riding distance.
Investment highlights
- The property is currently operating at roughly 80% occupancy and averaging over $26K in monthly gross rents.
- Many units are outdated and in need of repairs; presenting options at renovation and/or partial replacements to boost rents to market rates.
- Currently zoned RS-3, which presents another opportunity for a complete or partial redevelopment for another residential use.
- This deal offers an opportunity for a buyer to be as aggressive or passive in their strategy while collecting steady income and working towards a full lease-up and adding additional units.
- Each unit is separately metered for all utilities (Public city water/sewer and electric)
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