0 Center StOkeechobee, FL 34974

Property Details for 0 Center St

Lot size

1.68 AC

Property type

Mobile home & RV parks

Description

This well-maintained 14-unit mobile home park in Okeechobee, Florida, presents a compelling investment opportunity. Situated on 1.68 acres, the property includes three buildings and boasts a strong 10.60% capitalization rate, generating a substantial net operating income of $145,141. The park's diverse income stream is comprised of five park-owned units and nine tenant-owned units. One recently renovated park-owned home features a new roof, kitchen, flooring, and upgraded electrical system. The property is separately metered for individual unit utility billing and features two septic tanks for efficient waste management. A 24-hour on-site laundry facility provides added tenant convenience. The park's low-maintenance operation ensures a streamlined investment experience. Its convenient location, a short three-minute drive from local amenities, and proximity to Martin and St. Lucie Counties (45 minutes away), enhances its appeal to a wider tenant base. Seller financing options are available, including a 15-year amortized loan at 6.5% interest with 33% down or a 5-year interest-only balloon loan at 7.9% interest with 33% down. This turnkey operation offers a stable income stream in a desirable location. The asking price is $1,369,000.

Location Insight

City

Okeechobee

County

Okeechobee

State

Florida

Latitude

27.2438

Longitude

-80.8024

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