Contact Information
Charles Camp
Exit Realty of Lubbock
Mobile Home Park Details
- Price: $1,650,000
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 6.0% (Pro Forma)
- Listing ID: 1023836
- Posted On: Jan 18, 2019
- Updated On: Mar 27, 2025
Description
WRMHP has 27 plus spaces and 5 houses with enough vacant space to add 15 to 30 more spaces. Park rents the 5 houses and 18 Park owned MH's generating about $14,000 per month in revenue. Vacant space in front of the park that could add 3 to 5 RV spaces, The Park is in 2 land partials; the rear partial has about 1.5 acres not being used, There are several spaces that are current vacant that can be used for additional mobile homes or RV spaces. It wouldn't take much to make this park into a class A facility.
Located next to the property is a $1 Billon Cheese Factory that just had it's grand opening and is in the process of hiring 2000+ employees. This park can be easily transformed into a multi-million dollar money maker.
Location
From East Loop 289 go east 1 mile on FM 40(4th St or Acuff Rd) west Roosevelt Mobile will be on the south side of FM 40.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 32 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $250 |
| Size: | 10 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $162,000 |
| Operating Expense: | $65,000 |
| Net Operating Income: | $97,000 |
| Expense Ratio: | 40.1 % |
| Debt Info: | None |
Lot Information
| Singlewide Lots: | 32 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 20 |
| Average Rent for Park-owned Homes: | $600 |
