Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 13.7%
- Listing ID: 1330337
- Posted On: Sep 27, 2020
- Updated On: Jun 7, 2021
Description
60 Space RV Park and 3 mobile homes at a 13.75% cap (actual), 19% cap (pro forma).
Lots rent for $500 and each mobile home at $1900 totaling a potential revenue of $35,700 monthly. Park owned laundromat available as well.
There was a massive oil reserve found 25 miles from the park: https://www.star-telegram.com/news/local/fort-worth/article245032150.html
Continuous growth for the next 5 years. Park is located within a mile of a major highway, I-10.
Tremendous infrastructure is taking place in the surrounding area of the Permian Basin. Seller financing available.
Amenities
- Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 60 |
| Total Occupancy: | 80.0 % |
| Average MH Lot Rent: | $500 |
| Size: | 3 acre(s) |
Financial Information (Actual)
| Gross Income: | $271,357 |
| Operating Expense: | $168,673 |
| Net Operating Income: | $102,684 |
| Expense Ratio: | 62.2 % |
RV Information
| Number of RV Lots: | 60 |
| Average RV Lot Rent: | $500 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 3 |
| Average Rent for Park-owned Homes: | $1,900 |
