An executed Confidentiality Agreement is required in order to obtain access to the document center.

Once access is granted, prospective investors will be able to access the Offering Memorandum and other related confidential documents.

To initiate this process: or Register

Spring Lake MHP

Lake Wales, Florida

Property overview

Spring Lake is an all-age, family community in Lake Wales, voted the 'Friendliest Small Town in Florida'. Its cultural and recreational attractions, charming shops, and restaurants make the Lake Wales area a great place to live. Spring Lake is conveniently located approximately five miles from Historic Downtown Lake Wales, where residents can take advantage of numerous amenities and attractions including the world-renowned Bok Bell Tower, walking trails around Lake Wales and more.

Spring Lake Park is an all-age community consisting of 32 mobile home sites with current occupancy of 29 resident owned homes along with 4 apartments. The site rents are $340 with only one at $375 and the average rental rate for the 4 apartments is $550. The residents enjoy a community clubhouse, lake, and the location is in close proximity to shopping, jobs, and multiple highways. The community is situated on 6.3 acres +/- and has a well and septic tanks for the utilities.

Spring Lake MHP
3731 State Road 60 E
Lake Wales, Florida 33853

For detailed information on this property please contact: Christopher Nortley (586) 884-8416.

Property Summary

Total Sites32
Year Constructed1965
Land (Acres) +6.3
Occupied Sites29
Vacant Sites3
Occupancy91%
Average Rent/Site$341
PRIMARY USEMHP
PROPERTY TYPEFamily
STAR CLASSIFICATION2.5
WATERPrivate Well
SEWERSeptic
WATER METER TYPEN/A
SEWER METER TYPEN/A

OFFERING SUMMARY

Community Price$1,200,000
Community Owned Homes & Notes$0
Total Investment$1,200,000
Price per Site$37,500
Price Occupied per Site$41,379
Cap Rate (Without Reserves)7.09%