224 Southeast Davie Court
- $632k Assumable Debt with 5.5% Fixed Rate
- High-Demand Workforce Housing Market
- Clear Path to NOI Growth Through Infill & Rent Optimization
Property Description
This 33-lot mobile home park in Lake City FL offers strong in-place income of $101,693 annually with significant value-add upside and an assumable 5.5% fixed rate note of $632k not due until 2044! The community includes 20 tenant-owned homes paying $500/month lot rent, 3 vacant park-owned homes previously rented at $800/month, 4 ready vacant lots, and 6 additional lots requiring clearing for reactivation. Utilities include city water and septic, with manageable annual expenses (water $12K, lawn $2.1K, maintenance $5K, taxes $19.6K).
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,200,000 |
| No. of Units: | 33 |
| Lot Size: | 3.60 Acres |
| Opportunity Zone: | No |
| Price per unit: | $36,364 |
| Property Website | Click Here |
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