Renovated Manufactured Home Income
2886 Croton Ln, West Palm Beach, FL 33403
For Sale
$299,999
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 Market150
Property Features for 2886 Croton Ln
General Information
Standard status
Size
Property subtype
Financials
Cap Rate
Business Included
Additional Details
Multifamily Units
Building Details
Year Built
Tenancy
Listing Agency:
LoKation
Listed By:
Lisa B. Levy · License FL #3240013
(561) 866-8091
Source:
Wesellhomes
Added: Jun 16
Changed: Oct 26
Last Checked: Nov 10 at 2:40PM
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
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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 / Yr
$21,756
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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 Ln 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
