Leopard MH/RV Community is
an all-age 178-site community well
located in the highly desirable
Corpus Christi, TX market.
– Minutes away from the beautiful Gulf Coast, featuring
192 square miles of shoreline and downtown Corpus
Christi, Leopard MH/RV consists of 111 manufactured
home and 67 RV sites, all on public utilities.
– The MH sites are stabilized at 97% occupancy with
almost no park owned homes. COVID-19 negatively
impacted RV occupancy in the last 18 months, but is
now trending back to higher levels. This increased RV
occupancy will be a revenue benefit for a future Owner.
– Community amenities include an on-site office,
basketball court, children’s play area, shuffleboard
court, picnic area and on-site laundry.
– Rents are projected to increase to $370 per site
per month in early 2022. Water/sewer income was
negatively impacted in the first five months of 2021
due to malfunctioning submeters, but those issues
have been resolved and utility income is trending back
to normalized levels.
– The property will be delivered free and clear of debt
and should qualify for attractive non-recourse CMBS
debt.
– With a population over 325,000 (and almost 450,000
in the MSA), Corpus Christi is the 8th largest city in
Texas. Key employment includes opportunities in the
aviation, tourism, maritime shipping and research, and
petrochemical manufacturing industries. These factors
bode well for the affordable housing options that
Leopard MH/RV Community offers.