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7650 Hwy 78 Okeechobee, FL 34971

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For Sale
$1,799,000

27-Lot Mobile Home Park near Lake Okeechobee

Property Features for 7650 Hwy 78

General Information

Property type
Residential income properties
Lot Size
108,900 SF

Building Details

Year Built
1984

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Listing Contact
Peter Dacko
Peter Dacko

Listing Agency: Media Realty & Advisors, Inc. Listing Agent: Peter Dacko

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This exceptional investment opportunity presents a 27-lot mobile home park situated on over 2.5 acres in Okeechobee, Florida. Conveniently located minutes from Lake Okeechobee, the Kissimmee River, and downtown Okeechobee's amenities, this property also enjoys proximity to the developing Bass Pro Resort (less than 6 miles). The park comprises 27 lots/pads and a single concrete block studio apartment, complete with laundry facilities. Six units are owner-occupied, fifteen units are tenant-owned (lot rent only), and one unit is currently financed. Importantly, there are six vacant pads ready for development. The property features three convenient entrances and utilizes sub-metered public water and septic systems. Five brand-new, one-bedroom, one-bathroom mobile homes have recently been installed and are projected to rent for $1400 per month. A significant value-add potential exists through leasing the six vacant pads or constructing additional mobile homes at an estimated cost of $58,000 per unit. This presents a compelling investment prospect with a projected 9.5%-10% capitalization rate, requiring an estimated investment of $348,000 to fully realize its potential. The property is offered at $1,799,000.
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Multifamily properties

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Location Insight

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City
Okeechobee
County
Okeechobee
State
Florida
Longitude
-81.07689
Latitude
26.99615

FAQs

What type of property is this?
Residential income property - 27-Lot Mobile Home Park near Lake Okeechobee
Where is this residential income property located?
The property is located at 7650 Hwy 78 Okeechobee, FL.
What is the asking price?
The asking price for this property is $1,799,000.
More about this property
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