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1551 N Oak Park Avenue

Avon Park, FL 33825
  • $249,900
  • STATUS: Active Under Contract
  • ON SITE: 231 Days
  • MLS #: 295506
Under Contract
UPDATED: 34 min ago
$249,900
  • 0
    BEDS
  • 0.65
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
County:
Area:

School Ratings & Info

Description

Nice little investment opportunity for your portfolio and/or future. This .65 acre property just across the street from the public boat ramp to Lake Viola, has 4 mobile homes owned by the individual tenants who pay lot rent, their own utilities and maintain their own space. Next to no overhead for the owner other than taxes and insurance with an 8.5% cap rate. This area has been rezoned R2 (medium density residential, NOT for MHs) and is currently allowed as "non-conforming use" according to the county Zoning dept. As the units age out of service, the mobile homes will not be allowed to be replaced by newer units as it is no longer considered a MHP. However, it may be possible to subdivide the parcel into 2 lots for either two single family residences OR two duplex homes (one on each lot). In the mean time, the unit owners pay lot rent giving you over $2000/mo revenue. Tenants maintain their own lots and are separately metered. Great starter investment for a young wealth builder! Ages of MH's are approximate. Buyer and buyer's agent to verify all information with the County.

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© 2024 Heartland Association of Realtors, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compton Realty. Data last updated: 2024-02-28T21:42:27.297.
www.comptonrealty.com/homes/141373332
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1551 N Oak Park Avenue Avon Park, FL 33825

  • Price: $249,900
  • Status: Active Under Contract
  • On Site: 231 Days
  • Updated: 34 min ago
  • MLS #: 295506
0
Beds
0
Baths
0
½ Baths
0.65
Acres
County:
Highlands
Area:
Highlands
Property Description
Nice little investment opportunity for your portfolio and/or future. This .65 acre property just across the street from the public boat ramp to Lake Viola, has 4 mobile homes owned by the individual tenants who pay lot rent, their own utilities and maintain their own space. Next to no overhead for the owner other than taxes and insurance with an 8.5% cap rate. This area has been rezoned R2 (medium density residential, NOT for MHs) and is currently allowed as "non-conforming use" according to the county Zoning dept. As the units age out of service, the mobile homes will not be allowed to be replaced by newer units as it is no longer considered a MHP. However, it may be possible to subdivide the parcel into 2 lots for either two single family residences OR two duplex homes (one on each lot). In the mean time, the unit owners pay lot rent giving you over $2000/mo revenue. Tenants maintain their own lots and are separately metered. Great starter investment for a young wealth builder! Ages of MH's are approximate. Buyer and buyer's agent to verify all information with the County.
Interior Features

Building Area Total 28314

Property Features

Association YN No Business Name Stewart Lakeside MHP Listing Terms CashConventional Property Condition Good Condition Property Sub Type Commercial Sewer Septic Tank Special Listing Conditions None Tax Annual Amount 2336.23 Tax Year 2022 Water Source Public Zoning Description R2

Listing provided by ADVANTAGE REALTY #1: 863-386-0303: 863-386-0303.


© 2024 Heartland Association of Realtors, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compton Realty. Data last updated: 2024-02-28T21:42:27.297.
 
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518 US 27 South
Lake Placid FL, 33852