• River Highlands Mobile Home Park - 6811 Rochelle Ave, New Port Richey, FL 34655

For Sale

Multi-Family

For Sale

This property is available for sale
3.0
Acres
$665,000
Sale Price
  • Year Built
    1980
  • Overview

    Located just 1/2 mile south from SR 54, in Pasco County, New Port Richey. Take Celtic Road south from SR54, turn right on Rochelle. Property includes multiple parcels. 350 feet of frontage along Rochelle Avenue. Approx 71 feet of frontage along Elfers Parkway (which is the vacant parcel on the north side of the park); 150 feet of depth along Selkirk St (which are the three parcels located to the east side of the park with Rochelle frontage) River Highlands Mobile Home Park is exclusivity listed for sale by Yellowtail Commercial Realty. This offering includes all of the mobile homes in the park and includes adjacent vacant parcels and two vacant block MF buildings. Additional Lots and Value Add: There is a vacant lot to its north side which is also zoned R1MH valued at $20,000. The vacant parcel located along Rochelle at .17 acres is also zoned for MF and valued at $20,000. Two parcels sit at 3511 Selkirk and 3517 Selkirk, each with vacant homes that can be renovated for additional rental income (3511 received a new roof in June 2020); with a total (conservative) land value of $40,000. The park also has vacant lots for 3 RV income currently not utilized by the owner. Lot 3,5,8,13 and 6939 are all empty and can add another level of income. With current rents under market value, and the ability to build/renovate, add RV income, it is worth your time to consider. Current Income is $61,980 per year which will go to over $71,000 once MH unit 12 is complete in July of 2020. Add more MH and RVs and the income takes a leap. Rehab the free standing homes and you have another jump in income. Over half of the tenants could possibly enter into a lease to own renewal with the new buyer.

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Property Details

Located just 1/2 mile south from SR 54, in Pasco County, New Port Richey. Take Celtic Road south from SR54, turn right on Rochelle. Property includes multiple parcels. 350 feet of frontage along Rochelle Avenue. Approx 71 feet of frontage along Elfers Parkway (which is the vacant parcel on the north side of the park); 150 feet of depth along Selkirk St (which are the three parcels located to the east side of the park with Rochelle frontage) River Highlands Mobile Home Park is exclusivity listed for sale by Yellowtail Commercial Realty. This offering includes all of the mobile homes in the park and includes adjacent vacant parcels and two vacant block MF buildings. Additional Lots and Value Add: There is a vacant lot to its north side which is also zoned R1MH valued at $20,000. The vacant parcel located along Rochelle at .17 acres is also zoned for MF and valued at $20,000. Two parcels sit at 3511 Selkirk and 3517 Selkirk, each with vacant homes that can be renovated for additional rental income (3511 received a new roof in June 2020); with a total (conservative) land value of $40,000. The park also has vacant lots for 3 RV income currently not utilized by the owner. Lot 3,5,8,13 and 6939 are all empty and can add another level of income. With current rents under market value, and the ability to build/renovate, add RV income, it is worth your time to consider. Current Income is $61,980 per year which will go to over $71,000 once MH unit 12 is complete in July of 2020. Add more MH and RVs and the income takes a leap. Rehab the free standing homes and you have another jump in income. Over half of the tenants could possibly enter into a lease to own renewal with the new buyer.

  • Property Type
    Multi-Family
  • Submarket
  • Year Built
    1980
  • Sale Price
    $665,000
  • Total Acres
    3.0
  • Sale Status
    Available
  • Last updated
    Sep 10, 2020
  • Property ID
    2157819

Landlord's Sales Representative

  • Georgia Watson
    YELLOWTAIL COMMERCIAL REALTY