4 Build-able lots with 2 cash-flowing mobile homes
There are 2 mobile homes sitting on this property that generate a total of $1,100/month ($550 each). According to the seller, both tenants pay on time and have lived there for at least 5 years. They are 1970s mobile homes and need alot of work, but, you should be able to raise rent on them without doing much to them.
Cash flow is great but your real play on this property is the fact that is has FOUR build-able lots on this RMD-A zoned parcel.
According to the Jacksonville city planning office, you can build 4 separate houses on this parcel because the parcel has previously been platted for 4 lots and therefore provides an exception for the 40′ minimum width on RMD-A lots.
It’s not common to come across build-able lots that cash flow really well as you are waiting for the right time to build.