$2,500,000 • waterfront access

We are pleased to present for sale this newly developed mhp on the very desirable lake istokpoga in lake placid, fl. this is a community with 14 brand new 2023 legacy single-wide mobile homes, 3 single- family houses, and 1 apartment unit on 2.74 acres of lakefront property. all of the units are either brand new or totally renovated from the ground up. located on one of the 5th largest lake in florida and one of the best fishing lakes attracting fisherman to camps all around the lake. a new investor can operate this as a long term rental community or partially convert to a short-term rental/airbnb community to achieve much higher rents. there is plenty of vacation and seasonal demands as this is one of the most desirable lakes in central florida. the current owners of the community have completed development and are now advertising units for rent. one of the partners needs to pull his capital out for another project, so a buyer has the potential to buy this property with short term debt, finish filling the units, and potentially refinance to achieve above average returns in a short amount of time. we have a soft debt quote for private money and we anticipate this property being worth upwards of $3.2m+ once fully occupied.

Multi Family - for Sale

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