Hagner Trailer Park
City Utilities | 30% IRR | Favorable Seller Finance
Marketing description
The MHP Value Team is pleased to present a 17-unit manufactured housing community located in Sebring, Florida, a growing Central Florida market benefiting from population growth, and increasing demand for affordable housing. As housing costs continue to rise throughout the state, manufactured housing remains one of the most attainable housing options, supporting long-term occupancy and stable demand.
The property consists of 15 park-owned homes and 2 studio apartments currently generating approximately $100,010 in annual gross income. Current rents remain below market levels, providing investors with a clear path to increase revenue through rent growth. Additional upside exists through the implementation of a utility billback program, as water, sewer, and electric expenses are currently included in rent and not being recaptured by ownership.
Offered at $900,000 with seller financing available, the property provides stable in-place cash flow alongside a straightforward value-add strategy. With a projected pro forma cap rate of 9.60% and estimated investor returns approaching a 30% IRR, the asset offers an attractive entry point into one of Florida’s most resilient affordable housing sectors
Important Note to Prospective Buyers from Pace Morby: Congrats to all new members of the “Creative Finance” and “Subto” communities. We appreciate your interest and enthusiasm. Please note that we work exclusively with qualified, verified buyers. Our clients are not seeking first-time purchasers attempting to acquire mobile home parks with no capital investment. We will also not share proprietary Seller information with any intermediaries, including, but not limited to, scouts, “bird dogs,” or third parties.
Investment highlights
- Sebring, Florida Located in Central Florida, Sebring continues to benefit from steady population growth, an expanding retiree base, and increasing demand for affordable housing. As housing costs rise throughout the state, manufactured housing communities remain well-positioned to provide a cost-effective housing solution, creating strong long-term fundamentals and stable demand for investors entering the market
- In-Place Income with Immediate Upside The park is currently grossing $100,010 annually across 15 park-owned homes at an average of $565 per month, and 2 studies apartments at an average of $413 per month with rents still sitting below market rate with a opportunity for growth
- Utility Billback for water, sewer, and electric are currently included in rent and are not being passed through to tenants. Implementing a utility billback program could provide an opportunity to reduce operating expenses and increase NOI and gross revenue
- Attractive Seller Finance Terms At a listed price of $900,000 with $391,000 down, attractive seller financing, a proforma cap rate of 9.60%, and a projected average IRR of 30%, make this an easy for a new investors to come in with stable income and clear upside.
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