4501 Lillian HwyPensacola, FL 32506

Property Details for 4501 Lillian Hwy

Lot size

3.05 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of two mobile home parks totaling 28 units situated in West Pensacola, Florida. The parks, conveniently located within half a mile of each other, offer significant operational efficiencies. This Class C portfolio boasts a 93% occupancy rate and a pro-forma cap rate of 9.14%, presenting a compelling value-add proposition. The asking price is $975,000, translating to approximately $34,821 per pad. One park features 16 lots and a stick-built home, serviced by public water and sewer, with existing submeters ready for immediate implementation to bill back water costs. The second park comprises 10 lots and a stick-built home, utilizing public water (master meter) and septic tanks. Both parks benefit from below-market rents, providing immediate upside potential for the buyer. The sale includes three rent-to-own contracts and one park-owned RV. Electric is individually metered, and each park has a dumpster provided by the owner. The parks are situated near major employers and retailers, including Lowe's, Home Depot, and Walmart, enhancing their appeal and long-term stability. The 3.05-acre portfolio is strategically positioned in a growing Florida MSA, with over 85% of units tenant-owned, ensuring a stable income stream. This is a rare opportunity to acquire a well-positioned, value-add mobile home park portfolio in a desirable location.

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4261

Longitude

-87.276

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