Active

$539,000

Features:
  • 4 Bedrooms
  • 4 Bathrooms
  • 3500 sq ft
Overview
  • ID: MFRTB8461756
  • Bedrooms: 4
  • Bathrooms: 4
  • Size: 3500 sq ft
Property Details
Remarks
Bear Creek is a 9-pad hybrid manufactured housing and RV community located along Trouble Creek Road in New Port Richey, Florida. The property includes four fully renovated park-owned mobile homes and five RV pads, providing a mix of stable recurring income and seasonal flexibility. With strong in-place rents and recent capital improvements, the park delivers reliable cash flow with minimal near-term maintenance needs. The property generates an NOI of approximately $55,000, which reflects a 10.25 perc. cap rate at the asking price of $539,000. All four mobile homes were renovated between 2023 and 2025 with new kitchens, bathrooms, flooring, electrical systems, HVAC units, and other updates. This significantly reduces operating risk and enhances tenant retention. The park offers meaningful upside through increasing RV occupancy, optimizing monthly RV rates, and implementing modest rent growth on the mobile homes. A pro forma stabilization scenario supports an estimated NOI of roughly $79,000, which places the long-term value of the park in the $880,000 to $1,060,000 range depending on assumed cap rates. Bear Creek benefits from a strong local market with persistent demand for affordable housing, steady employment bases, and consistent seasonal RV traffic. Small hybrid MH/RV parks in Pasco County are scarce, and comparable assets trade at higher each-pad values. Overall, Bear Creek is a turnkey investment with strong in-place cash flow, recently upgraded homes, and clear value-add potential. It is well suited for both first-time park investors and experienced operators seeking a small, manageable property with upside.
Financial Considerations
Price:
$539,000
HOA Fee:
N/A
Tax Amount:
$4159.09
Price per SqFt:
$154
Tax Legal Description:
TAMPA TARPON SPRINGS LAND CO SUB PB 1 PGS 69 & 70 A POR OF TRACT 27 DESC AS COM AT SW COR OF SAID TRACT 27 SAME BEING ON SOUTH BDY OF NW1/4 TH RUN ALG SOUTH BDY OF TRACT 27 S89DEG 45' 20"E 120 FT FOR POB TH RUN PARALLEL TO WEST BDY OF TR 27 N00DEG07' 41"E 250 FT TH S89DEG 45' 20"E 120 FT TH S00DEG07' 41"W 250 FT TO SOUTH BDY OF TR 27 TH N89DEG45' 20"W 120 FT TO POB THE SOUTH 33 FT THEREOF FOR EXISTING R/W FOR SR S-518
Exterior Features
Lot Size:
26131
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
Boat, Common, Driveway, Golf Cart Parking, Guest, Off Street, Open, RV Garage
Roof:
Membrane
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
4
Bathrooms:
4
Heating:
Ductless
Cooling:
Wall/Window Unit(s)
Appliances:
Built-In Oven, Dishwasher, Electric Water Heater, Exhaust Fan, Microwave, Range, Refrigerator
Furnished:
No
Floor:
Laminate
Levels:
N/A
Additional Features
Property Sub Type:
Multi Family
Style:
N/A
Year Built:
1958
Construction Type:
Metal Siding
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Other
Additional Features 2:
N/A
Map
  • Address
    6323 TROUBLE CREEK RD
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