495 N WASHINGTON AVE Titusville FL 32796-2879

Cherrydon Mobile Home Park is a well-maintained 55-site age-restricted manufactured housing community in Southeast Florida on the Atlantic coast just minutes from the Kennedy Space Center, gorgeous beaches, golf courses and spectacular views of the NASA shuttle launches. The fully-occupied park sits on more than 5 acres with public water and sewer with rents well below market.

The asking price for the property is $5,800,000 ($105,455/site)

This represents a 6.5% cap rate at estimated market rents.

Join email list and provide investment criteria: https://lnkd.in/g9xC5k-a

Colliers Manufactured Housing & RV Group Linkedin Page:
https://www.linkedin.com/company/35565066

Other opportunities:
https://www.crexi.com/profile/mike-nissley-mikeni

MH Park Groups:
https://www.facebook.com/groups/1971542136217030
https://www.linkedin.com/groups/12180353

RV Park Groups:
https://www.facebook.com/groups/2040575082699586
https://www.linkedin.com/groups/12180303

• 100% occupied and rents are $200+ below market leading to significant near-term growth potential

• Public Water & Sewer

• 55+ senior manufactured housing community with strong demand, all tenant-owned homes and long-term tenants

• No deferred maintenance or collections issues

• Located directly off U.S. 1 and within 3 miles of I-95, the park sits just off the Indian River with views of the Kennedy Space Station Launch Pads.

• There is a possibility to improve other income by billing back for trash, adding pet fees and other ancillary income.