For Sale
$900,000

37828 Oak Forrest DrDade City, FL 33523

9 Units, 8% Cap Rate, Great Investment

Overview

Added:
Dec 11, 2024
Days on market:
115
This Dade City, Florida mobile home park presents a compelling investment opportunity. Situated on a 5.075-acre lot in Pasco County (zip code 33523), this Class B property boasts 9 tenant-owned homes and 10 total pads, with 90% occupancy. Two vacant pads are ready for immediate rental income, supplemented by two small, furnished apartments and two RV parking spaces, all with utilities. Amenities include a screened swimming pool, laundry facilities, a grilling area with picnic tables, and ample storage (sheds, a large container, and a covered building). The park is self-sufficient, featuring its own well (and an auxiliary well) and septic system. The property is zoned AR and is not subject to a ground lease. The asking price is $900,000, offering an 8% capitalization rate. Additional features include a serene pond and a beautifully landscaped setting. The park's location offers convenient access to Dade City's amenities, while also providing proximity to outdoor recreational opportunities such as the Withlacoochee River. Long-term residents contribute to stable income potential. While historical financial records are limited, the current market conditions and potential for rental rate increases suggest significant future return potential.

Highlights

  • INVESTMENT OPPORTUNITY: Oak Forrest Mobile Home Park, a beautifully wooded and landscaped 5.075-acre property.
  • Mobile home park with nine tenant-owned homes, two vacant mobile home spaces, and two RV parking spots.
  • Amenities include a screened swimming pool with patio, grilling and picnic areas, and a small pond.
  • Additional features: storage container, covered storage building, two small furnished apartments, and laundry area.
  • Improved access via asphalt road and county-maintained road; private well with auxiliary well and septic system.
  • Long-term residents.

Property Details for 37828 Oak Forrest Dr

Property type
Mobile home & RV parks
Class
B
Units
9

Location Insight

City
Dade City
County
Pasco
State
Florida
Latitude
28.4729129
Longitude
-82.1896114
37828 Oak Forrest Dr, Dade City, Florida

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37828 Oak Forrest Dr
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