Tallahassee MHC
Havana, FL
Asking price
$995,000
Sites
—
Cap rate
—
Price / site
—
About this property
MR. LANDMAN, LLC is pleased to present Tallahassee MHC, a 20-pad manufactured housing community situated on approximately 10.41 acres in Havana, Florida, approximately 12 miles north of Tallahassee. Originally developed around 1990, the property offers investors an opportunity to acquire an established manufactured housing community with existing rental income and significant value-add potential through the rehabilitation and lease-up of vacant park-owned homes. The current ownership group has owned the property for approximately two years. Tallahassee MHC benefits from its proximity to Tallahassee, Florida's state capital, which provides a relatively recession resistant regional economy anchored by state government, Florida State University, and other educational and institutional employers. The concentration of government and higher education employment contributes to economic stability and supports demand for affordable housing throughout the region. The property's location in Havana offers convenient access to the Tallahassee employment market while maintaining a setting outside the immediate urban core. The community consists of 20 manufactured housing pads, with 14 currently occupied, representing 70% occupancy. The property contains 12 tenant-owned homes (TOHs) and seven park-owned homes (POHs), all of which are singlewide units. Of the seven POHs, two are currently occupied and five are vacant. There is also one vacant pad within the community. According to ownership, all five vacant park-owned homes can be rehabilitated and returned to rental service, with none requiring removal from the property. Ownership reports that titles are in hand for all seven POHs and that no manufactured homes are currently being held for delinquent back taxes. The owners have also brought newer manufactured homes into the community at Lots 15 and 144. The average monthly pad rental rate is approximately $500, with the most recent rent increase occurring in September 2025. Tallahassee MHC is served by public water and an on-site private septic system. According to ownership, the underground piping throughout the community consists of PVC. Electrical service is provided through a combination of 100-amp and 200-amp pedestals. The community features a paved interior roadway that ownership describes as being in good condition. Road maintenance and mowing throughout the entire park are the responsibility of the property owner. Garbage removal is billed directly to tenants by the service provider. The property benefits from an on-site manager and maintenance person who oversee day-to-day operations and property upkeep. Residents operate under annual rental agreements and currently remit rent through Cash App, Venmo, and Zelle. Ownership reports that two tenants are presently delinquent on rent and that eviction proceedings have been initiated for both accounts. Resolution of these delinquencies may provide an opportunity for incoming ownership to improve collections and overall operating performance. The property is commercially zoned and is believed by ownership to be in compliance with its existing use as a manufactured housing community. A very small portion of the approximately 10.41-acre parcel lies within a designated flood zone; however, the existing manufactured homes appear to be situated outside that area. Current ownership does not maintain flood insurance. Prospective purchasers are encouraged to independently verify zoning compliance, flood-zone boundaries, insurance requirements, and all other applicable land-use considerations during due diligence. The primary opportunity for an incoming investor is the rehabilitation and lease-up of the five vacant park-owned homes. Ownership has specifically identified renovating these five homes and returning them to rental service as its principal priority if it were to continue operating the community.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $995,000 |
|---|---|
| Address | 100 Leasch Loop |
| First seen by UnitListed | Oct 20, 2026 |
| Source page last checked | Oct 24, 2026 |
| Source last changed | Oct 20, 2026 |
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Site count and hookup mix — not disclosed
How many sites are there, and how many are full-hookup, partial or tent?
Full-hookup sites earn a multiple of what a tent site does. The count alone does not tell you the income.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Oct 20, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Oct 20, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
