621 Live Oak St

• Value Add - 4 of 6 leases are on month to month leases at below market rates
• Gross Rents are $63,300; Annual expenses $10,891: Net Operating Income $52,409
• 10% CAP RATE

Property Description

Magnolia Court is a well established mobile home park in Choctaw Beach that has been around since the mid 1990's. This quiet neighborhood is home to 6 individual mobile homes that enjoy a peaceful setting near the Choctawhatchee Bay. Each 2 bedroom home enjoys its own fenced-in yards, vinyl siding and wooden decks. Additionally, each home has been upgraded with metal roofs and an upgraded septic system. A central driveway with 3 homes on each side creates an easy access point for all tenants involved. DO NOT BOTHER THE EXISTING TENANTS. Call me for additional details.