The Golden Grove Mobile Home Park, situated in St. Cloud, Florida, boasts 50 lots in a prime location near schools and the primary retail shopping area. At the time of purchase, the property was 90% occupied, with lot rents in the low $300’s, significantly below market rates. Our dedicated efforts included revitalizing the property, renovating numerous units, and establishing a secure and hygienic environment for the residents. As a result, lot rents have increased to the mid $400’s, and we have achieved full occupancy, with all lots currently occupied.
* LOTS: 50
* ACQUISITION DATE: February 2019
* ACQUISITION PRICE: $2,400,000
* RENOVATION COSTS: $200,000