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| | Presented By TAE Property Group LLC - T Eiman | 
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Oakhill Mobile Home Park
Property Type: Mobile Home Park - Senior
Last Updated: 7/1/2009 5:49:21 PM EST
Property # 25733
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Location:
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1331 Oakhill St.
Lakeland, Florida 33706 USA
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View Address On Mapquest
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Value:
Loans:
Equity:
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$1,400,000
$1,100,000
$300,000
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Number of Spaces: 79
Property Description:
Approx. 9 acres near downtown Lakeland. 2 acres future use, Mixed park of lot renters and park owned units, seniors and families. Clubhouse, office, paved streets. Lakeland listed in top 10 growth.
Benefits to New Owner:
New owner with sound management can net 180-220K on this park. 2 acres can be developed for more spaces. All the surveys and envirnmentals were completed.
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Annual Income & Expense
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| | Per/Year | % of G.I. | Projected/Year | | Gross Schedule Income | $0 | 0% | $370,000 | | Less Vacancy (-) | $0 | 0% | $37,000 | | Other Income (+) | $0 | 0% | | | Gross Operating Income | $0 | 100% | $333,000 | | Operating Expenses (-) | $0 | 0% | $145,000 | | Net Operating Income (=) | $0 | 0% | $188,000 | | Loan Payments (-) | $0 | 0% | | | CASH FLOW (=) | $0 | 0% | $188,000 | | Capitalization Rate | 0.00% | | 13.43% | | Lot Size | 9 ac MOL | | Zoning | Mhp | | Yr. Built | |
| Additional Income & Expense Comments | | Park grossed 279K. Park needs seasoned management. Current owner not involved in park to ensure 90% collection as it should be. |
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Loans
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| | | Balance | Mo. Payment | % Rate | Year Due | Lender | Assumable | | Loan #1: | $1,100,000 | $0 | 6.5 | | Conventional | NO | | TOTALS | $1,100,000 | $0 | | | | |
| Loan Comments | | Selling at loss, not interested in owner financing. |
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Additional Information Available Upon Request
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| No Appraisal available at this time | Maps: Area & Plat
Photographs
Leases |
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Can Adds
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| | | Property Type | Value | Loans | Equity | Cash Flow (Yr.) | | 1 | Mobile Home Park/Family | $599,000 | $475,000 | $124,000 | $60,000 | | 2 | Mobile Home Park/Family | $199,000 | $138,000 | $61,000 | $25,000 | | | CAN-ADD TOTALS | $798,000 | $613,000 | $185,000 | $85,000 |
| Can Adds Comments | | 30 space MHP located in Chipley, FL and 12 space park located in Graceville, FL. North of Panama City, FL, Hot growing area near new international airport. |
Click to view Other Parties who have offered to trade for this property.Click to view Other parties that may want what you have based on a computer match from the property records data
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Owner's Profile
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| Occupation Name Tim Eiman | | Why Owner No Longer Wishes to Own This Property | | Reduce time and management of property |
| Owner Comments and Benefits desired from Exchange | | Started new business. Must sell park. |
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Will Consider Exchanging For
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Mobile Home Park: Family, Senior, Trailer / RV, Other
Personal Property: Cash
Business Opportunities: Health, Recreation
U.S. Locations
| Map | States/Regions:
Regions: 'WEST', 'SOUTHWEST', 'MIDWEST', 'SOUTHEAST', 'NORTHEAST' |  |
| Owner Will Exchange for Additional Comments | | Ready to sell park at substantial loss. My loss is your gain. Huge upside for good management. |
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Property Represented By
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| Name Tim Location Dunedin, FloridaSend a message and your property page to Tim.Or, Send a message without your property page. |
REE.com Inc. has not verified the above property information and therefore does
not guarantee or warranty any information contained herein.
It is your responsibility to seek independent assistance for legal, tax, financial
and physical inspections. All information submitted is subject to errors, omissions,
change of price/value, withdrawal and to any special listing conditions
imposed by the principals.
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