Listed by eXp Commercial
$1,000,000
Selma Estates
Details
Property Type Mobile Home Park
Units 70
Cap Rate 9.02%
NOI $90,180
Occupancy 42.86%
Pro-Forma Cap Rate 18.87%
Pro-Forma NOI $188,743
Class C
Acreage 12.760
Investment Type Value Add
70 Total Sites, 9.02% cap rate, City Water & Sewer, 10.72% cash on cash
Marketing description
Please reach out to Ethan Linares directly at 813.377.5773 or [email protected] for questions or difficulty accessing the financials
Investment highlights
- Attractive Day-One Yield – Offered at a 9.02% going-in cap rate with ~10.72% projected cash-on-cash returns, providing immediate income with a strong risk-adjusted return profile.
- Significant Value-Add Opportunity – 40 vacant sites (57% of total) allow for scalable infill with RV, MH, or storage units, creating a clear path to materially increase NOI and asset value.
- Low In-Place Occupancy with High Upside – Currently operating at ~42.86% economic occupancy, offering substantial runway for lease-up and operational improvements.
- Clear Path to Stabilization & Strong Returns – Proforma assumes infilling 5 RV sites per year, stabilizing at ~80% occupancy by Year 5, with projected ~35% IRR at a 9% exit cap.
- Utility & Expense Optimization Potential – Direct-billed electric for MH tenants and opportunity to recapture utilities on RV sites, alongside normalization of operating expenses, supports meaningful margin expansion
Listing Contacts
Listed by eXp Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,180.00
$7,515.00/mo
Valuation Metrics
0
DSCR
9.02%
Cap Rate
9.02%
ROI
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