THE HILLSIDE MOBILE HOME PARK FOR SALE! 10116 Lake Ave 30 Unit Mobile Home Park $4,424,000 CAD ($147,467 CAD/Unit) 12.65% Cap Rate Tampa, FL 33619

THE HILLSIDE MOBILE HOME PARK IS A 30-UNIT MOBILE HOME PARK LOCATED IN TAMPA, FL. THE PARK CONSISTS OF 30 RECENTLY UPDATED MOBILE HOMES, ALL OF WHICH ARE LOCATED WITHIN A 3-MILE RADIUS. EACH MOBILE HOME SITS ON ITS OWN LARGE SINGLE-FAMILY HOME-STYLE LOT WITH A FRONT AND BACK YARD! THE PARK HAS BEEN IN OPERATION FOR OVER 20 YEARS AND IS CURRENTLY 100% OCCUPIED. ALL UNITS HAVE BEEN RENOVATED IN THE LAST 3-5 YEARS AND PRODUCE SOME OF THE BEST RETURNS YOU WILL FIND IN THE TAMPA MARKET! THE BEST PART OF THIS SALE IS THAT THE SELLER IS WILLING TO PROVIDE SELLER FINANCING AT AMAZING TERMS. (PLEASE SEE PAGE 5 FOR FULL SELLER FINANCING DETAILS.) THESE TERMS, ALONG WITH THE RENTAL INCREASES AVAILABLE TO THE BUYER, WILL EASILY PRODUCE A CASH-ON-CASH RETURN OF OVER 16% BY THE END OF 2025!
THE PROPERTY CONSISTS OF SEVERELY UNDERMARKET RENTAL RATES FOR THE AREA, MAKING THIS AN INCREDIBLE VALUE-ADD OPPORTUNITY FOR THE BUYER. OVER 75% OF THE UNITS ARE ON MONTH-TO-MONTH LEASES, ALLOWING FOR A BUYER TO COME IN AND IMMEDIATELY INCREASE THE RENTAL RATES TO THE AVERAGE MARKET RATE! THE CURRENT RENTAL RATES ARE APPROXIMATELY $200-$250 BELOW THE AVERAGE MARKET RENTAL RATE IN THIS RAPIDLY GROWING AREA. FURTHERMORE, THE PROPERTY HAS LONG-TERM TENANTS, AS ALMOST ALL TENANTS HAVE LIVED IN THEIR RESPECTIVE UNITS FOR OVER 3 YEARS!
PRESENTLY, THE HILLSIDE MOBILE HOME PARK HAS AN IN-PLACE CAP RATE OF OVER 11% AND A CASH-ON-CASH RETURN OF OVER 14%. NOT ONLY IS THIS A FANTASTIC RETURN, TO BEGIN WITH, IT ONLY GETS BETTER, AS THE BUYER CAN INCREASE THESE RENTAL RATES IMMEDIATELY. FURTHERMORE, BY USING THE SELLER FINANCING TERMS, THE BUYER CAN EASILY OBTAIN A CASH-ON-CASH RETURN OF OVER 16% IN EARLY 2026 AND OVER 17% IN 2027, MAKING THIS ONE OF THE BEST CASH FLOWING ASETS ON THE MARKET IN ALL OF FLORIDA!
SELLER FINANCING APPROXIMATE TERMS:
DOWN PAYMENT: $2,300,000!
FIXED INTEREST RATE: Year 1-2: 5% Year 3- 4: 5.5% Year 5: 6%
INTEREST-ONLY PAYMENTS OR
AN AMORTIZATION OF 30-YEARS
BALLOON LENGTH: 5 YEARS