Parsons Village Mobile Home Park
8.48% Cash-on-Cash | Light Value Add | Tampa, FL MSA
Marketing description
The MHP Value Team is pleased to announce Parsons Village MHP, a 20-site mobile home community located in Seffner, Florida, sitting just outside the major MSA of Tampa.
The community offers a rare combination of stability and upside, with rents currently sitting below market and Park-Owned Homes averaging $1,050/m. The park is already producing an NOI of $124,445, delivering investors an 8.40% cash-on-cash return from day one.
The investment strategy for Parsons Village involves infilling any vacant units, improving management and day-to-day operations, and capturing the embedded rent upside by gradually pushing rents to market rate, allowing an incoming investor to unlock significant additional cash flow without needing to stabilize a distressed asset.
A new investor has the opportunity to acquire a stabilized, cash-flowing community with substantial embedded upside, offering a projected IRR north of 28%.
Investment highlights
- Strong In-Place Cash Flow – The property is currently producing an NOI of $124,445 and delivering an 8.40% cash-on-cash return, offering investors immediate, stabilized income from acquisition.
- Significant Rent Upside – Current rents sit below market, with Park-Owned Homes averaging $1,050/m, providing a clear path to increased income as rents are gradually raised to market rate.
- 28%+ Projected IRR - structured to deliver a projected IRR north of 28%, driven by a combination of rent increases, unit infill, and operational improvements over the hold period.
- Infill and Operational Upside – Opportunity to infill vacant units and enhance management and day-to-day operations, further improving occupancy, collections, and overall asset performance.
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