7650 Highway 78 W Active Save Request In-Person Tour Request Virtual Tour
Okeechobee,FL 34971
Key Details
Property Type Multi-Family, Commercial
Sub Type Income/Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID F10449471
Year Built 1984
Property Description
Cloverport MHP is located minutes from Lake Okeechobee, Kissimmee River and downtown Okeechobee with its dining and shopping, and less than 6 miles from the up-and-coming Bass Pro Resort.
The park is a 27 lot/pad and 1 CBS studio apt. complex with laundry facilities. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. the complex sits on over 2.5 acres, with three entrances and sub-metered public water & septic.
There are 5 brand new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1400 per month. The value-add lies in leasing the 6 vacant pads or installing new MH's at a cost of approx. $58,000 per unit providing a 9.5%-10% cap rate with an investment estimated at $348,000.
Location
State FL
County Okeechobee County
Area Ok40
Zoning RR
Interior
Heating Central Individual A/C
Cooling Central Individual A/C
Exterior
Water Access N
Building
Sewer Public Sanitation
Water Public Water
Others
Acceptable Financing Cash
Listing Terms Cash