Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 10.2%
- Listing ID: 1431752
- Posted On: Apr 30, 2021
- Updated On: Sep 22, 2021
Description
Sixty space mobile home park located on the west side of the growing Lubbock, TX MSA near Reese Center. The site includes an additional acre for expansion.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 60 |
| Total Occupancy: | 55.0 % |
| Average MH Lot Rent: | $225 |
| Size: | 8 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $281,325 |
| Operating Expense: | $102,616 |
| Net Operating Income: | $178,709 |
| Expense Ratio: | 36.5 % |
| Debt Info: | Cash to Seller Only. No Seller Carry. |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | Septic |