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Commercial/Industrial,Income/Multi-family - Okeechobee, FL
Cloverport Mobile Home Park offers a compelling value-add investment with an in-place 9.25% cap rate and an estimated 11.0% capitalization rate based on stabilized income. Ownership has experienced a shift in motivation and has aggressively reduced the asking creating a massive upside potential. The property is strategically located minutes from Lake Okeechobee, the central business district, providing convenient access to dining, shopping, and employment centers.
Cloverport consists of 27 mobile home pads plus one CBS studio apartment, situated on over 2.5 acres with three points of ingress/egress. The park features sub-metered public water and septic, on-site laundry facilities, and annual leases.
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