151st Ave, Lutz FL 33549

Located in the popular Tampa Suburb of Lutz, FL, this Mobile Home Park is a great opportunity if you’ve been looking for a turn-key rental property. The park consists of seven tenant occupied mobile homes.

It features five two-bedroom, one-bathroom units, and two one-bedroom, one-bathroom units.

The current rental income amounts to $4,800 per month. The tenants all pay their own electricity and the park is on well and septic. The owner currently pays $65.00 per month for electricity in common areas.

There are two septic tanks that are serviced regularly and there is a large storage shed that also conveys with the property. There are new roofs on all of the units except for units “D” and “F, which have metal roofs.

This park has been self-managed with long-term tenants that are currently on month-to-month leases. With some light updating, there is an opportunity to increase the average rents from under $700 per month to the $900 per month range.

We recommend the new owner address anything that needs immediate attention, then cash flow these units with minimal expense until turning the units over for new tenants. As each unit turns over, remodel them and increase the rents one by one. Finding a rental opportunity such as this in the Tampa market is difficult.

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