$9,995,000
Okeechobee, FL 34971
MLS# F10503959
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Property Description
VALUE ADD | Okeechobee | Four mobile home parks (175 units) in very close proximity to one another with 2 parks being contiguous and represents 123 pads. There is a positive appetite to acquire mobile home parks in Okeechobee driven by several compelling market dynamics: Affordable Housing Demand, Interest in Stable, Cash-Flowing Assets, Local Market Appeal and Low Operational Costs. THE PARKS A) Cloverport Mobile Home Park/28 Units; 7650 Highway 78 W. B) Dew Drop Mobile Home Park/57 Pads; 8791 Highway 78 W. C) Okeechobee Lake Mobile Home Park/66 Pads; 8951 Highway 78 W. D) Palm Drive Trailer Park/ 24 Pads; 3307 and 3611 SE 36th Ave. DOWNLOAD the Offer Memorandum for salient data including individual park descriptions, rent rolls and income & expense.
Details
Maps
Contract Information
Comp Sale YN: No
Negotiable Seller Concessions YN: Yes
Listing Date: 2025-05-15
Status: Active
Original List Price: 11250000
List Price: $9,995,000
Current Price: $9,995,000
Location and Legal
County Or Parish: Okeechobee
County Parish Name: Okeechobee
City Name: Okeechobee
Geographic Area: OKCB - Okeechobee
Country: United States
Street Number: 8791
Street Name: Highway 78
State Or Province: FL
Postal Code: 34971
Area: 6240 - NW County (OK)
Parcel Number: 1-08-38-35-0A00-00017-0000
Zoning: RR
Directions: Too much information for the MLS. Please download the Offering Memorandum for all salient data regarding the opportunity.
General Property Information
Number Of Units Total: 175
Occupant Type: Tenant
Property Sub Type: Multi Family
Year Built: 1984
Lot Size Acres: 13.6
Currently Not Used
Ownership Type: Corporation
Office/Member Information
DXORIGMLSID: FLL
Property Condition
Resale: 1
Documents Available
Investment Analysis: 1
Structure Type
Warehouse: 1
Common Area Maintenance Includes
Exterior Electric: 1
Exterior Maintenance: 1
HVAC Maintenance: 1
Interior Electric: 1
Interior Maintenance: 1
Water: 1
Heating
Central Individual: 1
Water Source
Public: 1
Income and Expenses
Gross Income: 1198200
Vacancy Allowance Rate: 13
Gross Scheduled Income: 1119624
Source Of Expenses
Owner Provided: 1
Description of Unit Type 1
Unit Type: 1 Bedroom
Units Total: 175
Beds Total: 1
Cooling
Central Individual: 1
Showing Requirements
Call Listing Agent: 1
Call Listing Office: 1
Financial Information
Tax Annual Amount: 122000
Tax Year: 2025
Status Change Information
Major Change Timestamp: 2025-11-24T22:49:29Z
Major Change Type: Price Reduced
Price Change Timestamp: 2025-11-24T22:49:29Z
Status Change Date: 2025-05-15
Originating Details
Originating System Key: 598543992
Originating System ID: M00000170
Property Features
Common Area Maintenance Includes: Exterior Electric; Exterior Maintenance; HVAC Maintenance; Interior Electric; Interior Maintenance; Water
Documents Available: Investment Analysis
Heating: Central Individual
Property Condition: Resale
Source Of Expenses: Owner Provided
Cooling: Central Individual
Structure Type: Warehouse
Water Source: Public
Showing Requirements: Call Listing Agent; Call Listing Office
Supplements
Highlights of the individual Parks:Cloverport Mobile Home Park; 7650 Highway 78 W. OkeechobeeCloverport Mobile Home Park is located minutes from Lake Okeechobee, Kissimmee River and downtown Okeechobee (2.7 miles) with its dining and shopping, & less than 6 miles from the up-and-coming Bass Pro Resort at 10430 W Highway 78.Cloverport Mobile Home Park is a 27 lot/pad and one CBS studio apartment complex with laundry facilities rented on an annual basis. And sits on over 2.5 acres, with three entrances, sub-metered public water & septic. 6 units are park owned, 15 units are tenants owned (lot rent only), 1 unit is financed and there are 6 vacant pads. Water expense is passed through to the tenant's owner mobile homes. There are 5 brand 560 SF new mobile one bedroom/one bath homes recently delivered and installed, estimated to rent for $1200 per month. The value-add lies in leasing the 6 vacant pads or installing new MH's at a cost of approx. $58,000 per unit providing a 9.5%-10% cap rate with an investment estimated at $348,000.Dew Drop Mobile Home Park; 8791 Highway 78 W., Okeechobee The Dew Drop Mobile Home Park sits on 3.9 acres and contains 57 pads with one folio. The park consists of lot rents only as each mobile home is tenant owned.The MHP is less than 5 miles to the central Business district of downtown OkeechobeeOkeechobee Lake Mobile Home Park; 8951 Highway 78 W., OkeechobeeOkeechobee Lake Mobile Home Park contains 66 pads (lot rent only)This park is contiguous to Dew Drop Mobile Home Park and together they have a combined 126 pads. The park consists of lot rents only as each mobile home is tenant owned.The MHP is less than 5 miles to the central Business district of downtown OkeechobeeThe park has one folio numberPalm Drive Trailer Park; 3307 and 3611 SE 36th Ave; OkeechobeeThe property possesses two folio numbers and is situated on a canal with access to Lake Okeechobee. The park has 24 pads and collects rent for lot rent only.
Listing Office: Media Realty
Last Updated: May - 07 - 2026
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