Beach Cove

Beach Cove

Sebastian, FL
Available
  • Property Type: Manufactured Housing
  • Property Size: / 31.57 Acres / 80 Sites

Overview

Capstone Manufactured Housing is pleased to present MHI’s 2020 Land Lease Community of the Year: Beach Cove, an 80-site manufactured housing community located in Sebastian, Florida.  Situated on 31.57± acres, there is excess land permitted to develop 58 additional sites. At the current lot rents, an additional 58 sites will increase the annual gross potential income by $438,840. Furthermore, there are 18 vacant developed sites which a new owner can focus on filling to realize immediate income. Neighboring manufactured housing communities have an average occupancy of 96%; thus, the vacant and undeveloped sites present an enormous value-add opportunity.

At this 55+ community, residents enjoy resort-like amenities including a clubhouse, swimming pool, and tiki hut. With the beautifully manicured landscaping and palm trees lining the paved roads, Beach Cove resembles a premier Florida neighborhood. This offering presents the unique opportunity to acquire an institutional-level asset with substantial rental upside and land development.

Investment Highlights

  • MHI’s 2020 Land-Lease Community of the Year
  • Upside in Filling Vacancy
  • Opportunity to Develop 58 Additional Sites
  • Substantial Rent Upside
  • Direct Billed Public Utilities
  • 100% Lot Rentals with No Park-Owned Homes

Contact Information

Kevan Enger Partner P: 407.494.8541
O: 800.261.9464 ext. 704
kevan@capstone-companies.com
Ian Hilpl Senior Advisor P: 315.406.0900
O: 800.261.9464 ext. 708
ian@capstone-companies.com
Brian Hummell Investment Sales Advisor P: 614.318.5482
O: 800.261.9464 ext. 711
hummell@capstone-companies.com
Hunter LaRocca Investment Analyst P: 407.227.9643
O: 800.261.9464 ext. 712
hunter@capstone-companies.com
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