Renovated Manufactured Home Income
For Sale
Contact for pricing
2886 Croton Lane, West Palm Beach, FL 33403
Owner-land income setup with a 1-bedroom and two studio units, all tenant-occupied with updated major systems.
Property Size1,250 SF
Price / SF$239
Days on Market212
Property Features for 2886 Croton Lane
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Multifamily
Zoning
RH
Net Operating Income
$2,000
Financials
Cap Rate
12%
Business Included
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1961
Units
3
Tenancy
Multi
Listing Agency:
LoKation
(561) 866-8091
Listed By:
Lisa Levy · License #3240013
Source:
Crexi
Added: Jan 11
Changed: Aug 10
Last Checked: Aug 11 at 1:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LoKation
Investment Insights
Based on property information with market context.
This completely renovated manufactured home is offered with ownership of the land, and no HOA fees or rules. The property is arranged as one 1-bedroom unit and two studio units, each with a bath and a small kitchen. Tenants are in place on a long-term basis. Updates include electrical improvements, an updated water heater, and HVAC updates, supporting day-to-day functionality across the units.
Access and use are straightforward given the single-structure setup and on-site land ownership. The listing is presented as a residential income offering, with existing in-place tenants rather than a vacant redevelopment scenario.
For buyers seeking an owner-land residence with attached rental income, this configuration provides multiple unit types within one renovated manufactured home. The seller notes a tenant-occupied long-term status and references a 12% cap rate. Seller financing is available for the right buyer, with $60,000 down and $2,500 per month, subject to buyer qualifications.
Access and use are straightforward given the single-structure setup and on-site land ownership. The listing is presented as a residential income offering, with existing in-place tenants rather than a vacant redevelopment scenario.
For buyers seeking an owner-land residence with attached rental income, this configuration provides multiple unit types within one renovated manufactured home. The seller notes a tenant-occupied long-term status and references a 12% cap rate. Seller financing is available for the right buyer, with $60,000 down and $2,500 per month, subject to buyer qualifications.
Key Highlights
- Completely renovated manufactured home (built 1961) with owner‑land setup (you own the land)
- Rental layout includes 1‑bedroom unit plus two studio units, each with bath and small kitchen
- All units are tenant‑occupied long term
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,756
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$435,120
$435.1K
Cap Rate 7%
$310,800
$310.8K
Cap Rate 9%
$241,733
$241.7K
Market Conditions
NOI Build-Up for 1,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.6K $33.24/SF
− Vacancy
−$2.0K −$1.60/SF
EGI
$39.6K $31.64/SF
− OpEx
−$17.8K −$14.24/SF
NOI
$21.8K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$435,120
Cap Rate 7%
$310,800
Cap Rate 9%
$241,733
Alternative Uses
Best Use
Apartment 5plus
$310.8K
$272.0K – $362.6K
NOI $21,756 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$880.3K
$770.3K – $1.03M
NOI $61,622 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mobile home & RV park - Owner-land income setup with a 1-bedroom and two studio units, all tenant-occupied with updated major systems.
Where is this mobile home & rv park located?
The property is located at 2886 Croton Lane West Palm Beach, FL.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Completely renovated manufactured home (built 1961) with owner‑land setup (you own the land); Rental layout includes 1‑bedroom unit plus two studio units, each with bath and small kitchen; All units are tenant‑occupied long term
