Mobile home lots not in a park?

[Will G.]

Hi everyone,

I ran across a package deal of 20 mobile home lots located in a coastal city in florida, which are not in an established mh park but rather just city lots with city utilities, (not contiguous),but scattered throughout a neighborhood that is predominantly trailers with a few site built homes. The homes are owned by tenants and lot rent is $350 a month.The county valuation of most of these lots is around $6500 with yearly taxes under $300. The owner is asking $700k and I am wondering how would one value this package? Is it ridiculous to pay so much more for a city lot cause it has someone elses mobile home on it? What am I missing as a downside to not being in a park?

Thanks for the input