$5,900,000

01234 Confidential Dr

ZEPHYRHILLS FL, 33542

Description

Legacy mobile home park being offered for sale for the 1st time by it's owners. Established in 1952 this 263 lot, 28.87 acre community is uniquely located within city limits and connected to municipal water and sewer. Picturesque setting with lots nestled among majestic old Florida grandfather oaks and waterfront views. Each lot is independently metered for water and sewer by the city. The site is adjoined by a 34 acre city park that features a community center, water park, 5 lighted tennis courts, handball, fishing, picnic pavilions with picnic tables, barbecue grills, horseshoe pits, playground equipment, and a 5/8s of a mile lakeside fitness path. Mobile home park residents have secure gated access to the city park via private sidewalk. Included in the sale is a furnished community recreation hall with commercial kitchen and library, park office with 3bed/2bath manager's residence, tournament grade indoor and outdoor shuffleboard facility, 3 irrigation wells, maintenance barn, and storm water lift/pump stations. This community offers excellent upside potential and great cap rates with flexibility for upgrading units and rent rate adjustments. Current RU land use designation permits a residential density of 7.5 units/acre. Current "grandfathered" density is 9.1 units/acre. Excellent investment opportunity to use in a 1031 exchange or buy, hold, rent then use in a future redevelopment for a mixed use commercial and multifamily project. Prospective buyers required to sign a non-disclosure agreement for access to park financials.

Details

MLS#T3246289
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1954
Days On Site259

Features

Water FrontNo
Loading Form
Loading Form
Area Information
StateFL
CountyPasco
CityZEPHYRHILLS
Zip Code33542
Area33542 - Zephyrhills
Listing VS Median (in 33542)
Price:
$5,900,000
low | high
Med:
$139,900
100% of Average
On Site:
259
low | high
Med:
153
100% of Average
Sourced by Back At You
Listing Updated: July 8, 2020 12:43:29 PM PDT
Bobby Welbourn LogoMLS Number: T3246289
Listing Provided By:
Bobby Welbourn  of  KELLER WILLIAMS - NEW TAMPA

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.