Marcus & Millichap Arranges the Sale of a 20 Space Manufactured Home Community
LAKELAND, FLORIDA, May 11, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Happy Hollow Mobile Home and RV Park, a 20 space mobile home/RV community in Lakeland, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $394,000.
Jose Villao, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was also secured and represented by Villao. “This community is in close proximity to the Polk Parkway, which boasts heavy commerce and housing development,” said Villao.
“The community also offers an affordable alternative to other means of housing in Lakeland. Further, it offers the new owner an excellent opportunity to capitalize on future rent growth,” adds Villao.
Happy Hollow Mobile Home and RV Park is located at 2620 Reynolds Road in Lakeland, Florida. The park was built in 1973 and consists of 8 mobile home sites and 12 RV spaces. The park services a septic system for sewer service and public water.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com