Cedar Pines MHP - Assumable Debt Available

Investment Overview

This 33-lot mobile home park in Lake City FL offers strong in-place income of $101,693 annually with significant value-add upside and an assumable 5.5% fixed rate note of $632k not due until 2044! The community includes 20 tenant-owned homes paying $500/month lot rent, 3 vacant park-owned homes previously rented at $800/month, 4 ready vacant lots, and 6 additional lots requiring clearing for reactivation. Utilities include city water and septic, with manageable annual expenses (water $12K, lawn $2.1K, maintenance $5K, taxes $19.6K).

Investment Highlights

• $632k Assumable Debt with 5.5% Fixed Rate
• High-Demand Workforce Housing Market
• Clear Path to NOI Growth Through Infill & Rent Optimization