621 Live Oak St Freeport, FL 32439

Magnolia Court, located at 621 Live Oak St, Freeport, FL 32439, presents a compelling value-add investment opportunity. This established RV park, situated in the peaceful Choctaw Beach neighborhood near Choctawhatchee Bay, comprises six individual mobile homes, each featuring two bedrooms, a fenced yard, vinyl siding, a wooden deck, a metal roof, and an upgraded septic system. The park boasts a convenient central driveway layout. Four of the six homes are currently under month-to-month leases at below-market rates, offering significant potential for increased revenue. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $52,409, generating a 10.28% capitalization rate based on an asking price of $510,000. Gross rents currently total $63,300 annually, while annual expenses amount to $10,891. The park's existing tenants should not be contacted directly. This property offers a unique chance to acquire a well-maintained, income-producing asset with substantial upside potential through lease adjustments. The property's Assessed Parcel Number (APN) is 28-1S-21-41010-009-0130. This is a turnkey opportunity in a desirable coastal location.