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Chaffee Creek MHP 465 Chaffee Rd N 12 Unit Mobile Home Park $1,021,650 CAD ($85,138 CAD/Unit) 7.51% Cap Rate Jacksonville, FL 32220
Executive Summary
The Esterson MHC Team is pleased to present Chaffee Creek MHP, a value-add, 12-unit manufactured housing community with seller financing available, located in Jacksonville, FL. This investment offers in-place cash flow with immediate upside through market rent adjustments and infill of vacant lots.
Jacksonville is the most populous city in Florida and one of the fastest-growing metros in the Southeast. The Jacksonville metro region is experiencing notable population growth. According to one source, from 2023– 2028 the region is expected to grow by approximately 11% — faster than the state average and many U.S. metros. The market benefits from a diverse economy anchored by logistics, finance, healthcare, and the Port of Jacksonville, along with a strong military presence. Population growth and business-friendly economic conditions continue to fuel demand for affordable housing. With median three-bedroom apartment rents well above $1,800 per month in the Jacksonville MSA, manufactured housing remains an attractive, lower-cost alternative for families and workforce residents.
Chaffee Creek MHP is 12 total units consisting of 8 tenant-owned homes (TOH), 1 rented single-family home(SFH), 1 abandoned manufactured home (MH), and 2 vacant MH lots. The average lot rental rate per month is $563 and the SFH rents for $1,500 per month. The lot rental rate is significantly below market, which should be at least $700.
The park is serviced by public water that is billed back to tenants, private sewer (1:1 septic) included in rent and curbside trash that is billed directly to tenants. Electric is also billed directly to tenants. The roads are paved and publicly maintained. The park is partially in a flood zone. The park is NOT in an opportunity zone.
This opportunity is being offered at $750,000 and seller financing is available at 35% down, 5% interest only for 12 months, then 48 months at 5% interest rate and 25 year amortization, and a 5 year balloon.
All offers must include purchase price, inspection timelines, appropriate terms, proof of funds, and relevant real estate experience
Jacksonville is the most populous city in Florida and one of the fastest-growing metros in the Southeast. The Jacksonville metro region is experiencing notable population growth. According to one source, from 2023– 2028 the region is expected to grow by approximately 11% — faster than the state average and many U.S. metros. The market benefits from a diverse economy anchored by logistics, finance, healthcare, and the Port of Jacksonville, along with a strong military presence. Population growth and business-friendly economic conditions continue to fuel demand for affordable housing. With median three-bedroom apartment rents well above $1,800 per month in the Jacksonville MSA, manufactured housing remains an attractive, lower-cost alternative for families and workforce residents.
Chaffee Creek MHP is 12 total units consisting of 8 tenant-owned homes (TOH), 1 rented single-family home(SFH), 1 abandoned manufactured home (MH), and 2 vacant MH lots. The average lot rental rate per month is $563 and the SFH rents for $1,500 per month. The lot rental rate is significantly below market, which should be at least $700.
The park is serviced by public water that is billed back to tenants, private sewer (1:1 septic) included in rent and curbside trash that is billed directly to tenants. Electric is also billed directly to tenants. The roads are paved and publicly maintained. The park is partially in a flood zone. The park is NOT in an opportunity zone.
This opportunity is being offered at $750,000 and seller financing is available at 35% down, 5% interest only for 12 months, then 48 months at 5% interest rate and 25 year amortization, and a 5 year balloon.
All offers must include purchase price, inspection timelines, appropriate terms, proof of funds, and relevant real estate experience
Property Facts
| Price | $1,021,650 CAD | Property Subtype | Manufactured Housing/Mobile Home |
| Price Per Unit | $85,138 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 12,000 SF |
| Cap Rate | 7.51% | Average Occupancy | 75% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1980 |
| Price | $1,021,650 CAD |
| Price Per Unit | $85,138 CAD |
| Sale Type | Investment |
| Cap Rate | 7.51% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | C |
| Building Size | 12,000 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 1980 |
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Property Taxes
| Parcel Number | 006557-0000 | Improvements Assessment | $228,900 CAD |
| Land Assessment | $464,732 CAD | Total Assessment | $693,632 CAD |
Property Taxes
Parcel Number
006557-0000
Land Assessment
$464,732 CAD
Improvements Assessment
$228,900 CAD
Total Assessment
$693,632 CAD
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Chaffee Creek MHP | 465 Chaffee Rd N
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