1551 N Oak Park Ave

Avon Park FL 33825

28314 sq. ft.

Other

Currently for sale - view listing

Overview

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" due to existing units in place at the time of the re-zoning. 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 each 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.