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Manufactured Home Community in Florida Sells for $6.4 Million

m_and_m_sale_of_tarpon_springs__mhc__july_22_2015Marcus & Millichap (M&M) has informed MHProNews of the sale of a 135+ home site manufactured home community (MHC) near Tarpon Springs, Florida for $6,400,000. The age-restricted community is situated on 15.37 acres, according to Richard D. Matricaria, regional manager of the firm’s Tampa office, and includes a 2,500 acre freshwater lake.

Dan Mulkey, also of M&M’s Tampa office, represented the seller, a local private owner of multiple MHCs and recreational vehicle (RV) communities in the area. Shamrock Tarponaire LLC, a known Arizona-based investor in MHCs is the buyer.

The community has single section and multi-section manufactured homes and features a clubhouse, shuffleboard courts and boat docks. The MHC is also close to the Greek community of Tarpon Springs, which is well known for its ethnic restaurants, bakeries and markets.

Mulkey says, “This site, having generous lake frontage, provides the buyer an opportunity to upgrade many of the homes on site, as well as back-fill vacant sites adding worth to the asset, and by doing so the value of this community will be greatly enhanced.” The name of the MHC was not immediately available. ##

(Photo credit: Marcus & Millichap–manufactured home community in Tarpon Springs, Fla.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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