10378 94Th St Live Oak, FL 32060

Property Details for 10378 94Th St

Year built

1980

Lot size

9.41 lot acres

Property size

1,000 SF

Property type

Mobile home & RV parks

Description

This exceptional 20-unit mobile home park in Live Oak, Florida, presents a compelling investment opportunity. Situated on a 9.41-acre lot (with 5 acres of additional potential), the property boasts a 100% occupancy rate and a strong NOI of $239,125, yielding a 9.96% cap rate. The park features 20 pads, each with two parking spaces, and includes two buildings totaling 1,000 square feet of additional space. Substantial renovations were completed between 2022 and 2023, encompassing new roofs, doors, appliances, hot water tanks (as needed), exterior stairs, house numbers, and outdoor lighting fixtures. The 20 mobile homes are primarily renovated, and 19 of them are currently under signed leases, averaging $977 per month. The property includes a recently installed ($250,000) septic system, a fenced area for equipment storage (including generators for backup power), and a comprehensive 24/7 video security system with over a dozen cameras. The park is professionally managed, with a manager residing on-site who is compensated only for work performed, allowing for absentee ownership. Amenities for tenants include water, septic, lawn service, weekly trash pickup, and a dumpster. The property's location in Live Oak benefits from recent growth, including new retail, healthcare, and educational facilities. The asking price is $2,400,000, representing $120,000 per pad. The property's website provides additional photos and information. Future income potential exists through increased rental rates and the possibility of charging for water usage. The APN numbers are 2502S13E07395000000 and 2502S13E07395000100. The property is offered fee simple.

Location Insight

City

Live Oak

County

Suwannee

State

Florida

Longitude

-82.9628

Latitude

30.2796