Cedar Ridge MHC is a 26-site
(including one stick-built efficiency
unit) all-age community situated
on 8.34 acres of land serviced by
public water and private septic.
– Value-add to further increase rents (comparable
properties are up to $500 per month per site in
the immediate area) even after they were recently
increased to $375 per site. Possibility to create
additional sites by moving site 107 closer to the septic
field and adding two pads. Also opportunity to add an
RV site next to the storage shed.
– Fantastic location in the Texas Hill Country, just over 80
miles to the west of downtown Austin and just over 50
miles north of San Antonio.
– Offering currently includes four park owned homes, of
which one is rented, one is the stick-built efficiency,
and one is vacant. Owner is also bringing in another
home not included in the above to fill the last vacant
site, which he anticipates should be in place by the end
of March. There is also one home note included in the
sale with a balance around $13,000.
– The neighborhood surrounding the park boasts
very strong recent home sales activity. With strong
demographics in the area and its proximity to major
markets, the last three home sales (2016 vintage) were
about $50,000 and up to as much as $65,000. Many
home buyers are cash buyers and if not, then local
credit unions may be open to financing.
– Offered on an all cash basis, a new buyer can put new
attractive financing on the property.