The Morgan Group Acquires Mobile Home Park In Fort Lauderdale For $10M
440 Southwest 27th Avenue, Fort Lauderdale, FL, USA
$10,000,000
$20/SF
Building Size
479,160 SF
Asset Type
Other
Closing
Jan 28, 2020
AI
A mobile home park in Fort Lauderdale has been sold for $10,000,000. The property, located at 440 Southwest 27th Avenue, spans an area of 479,160 square feet and consists of 110 units. The sale price equates to approximately $109 per square foot, with a per-unit price of $90,909.
Summary of transaction details:
- Property Type: Mobile home park
- Transaction Amount: $10,000,000
- Address: 440 Southwest 27th Avenue
- Market: Fort Lauderdale
- Square Footage: 479,160
- Price per Square Foot: $109
- Units: 110
- Price per Unit: $90,909
The Morgan Group, represented by Michael Morgan, acquired the property from The Clarkson-Bergman Family Partnership. The transaction was facilitated by Chris Conklin of Walker & Dunlop.
Players
Fort Lauderdale Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93