Download Offering Materials: Beach Cove
View Property Video: Beach Cove
Capstone Manufactured Housing is pleased to present MHI’s 2020 Land Lease Community of the Year: Beach Cove, an 80-site manufactured housing community located in Sebastian, Florida. Situated on 31.57± acres, there is excess land permitted to develop 58 additional sites. At the current lot rents, an additional 58 sites will increase the annual gross potential income by $438,840. Furthermore, there are 18 vacant developed sites which a new owner can focus on filling to realize immediate income. Neighboring manufactured housing communities have an average occupancy of 96%; thus, the vacant and undeveloped sites present an enormous value-add opportunity.
At this 55+ community, residents enjoy resort-like amenities including a clubhouse, swimming pool, and tiki hut. With the beautifully manicured landscaping and palm trees lining the paved roads, Beach Cove resembles a premier Florida neighborhood. This offering presents the unique opportunity to acquire an institutional-level asset with substantial rental upside and land development.
MHI’s 2020 Land-Lease Community of the Year
Upside in Filling Vacancy
Opportunity to Develop 58 Additional Sites
Substantial Rent Upside
Direct Billed Public Utilities
100% Lot Rentals with no Park-Owned Homes