Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 7.4%
- Listing ID: 15490
- Posted On: Aug 17, 2010
- Updated On: Oct 19, 2010
Description
*NO OWNER FINANCING AVAILABLE. BUYER MUST OBTAIN A NEW LOAN OR ACQUIRE NEW FINANCING.
*Located in the geographical center of Dallas/Fort Worth and close to several major highways, schools and major businesses
*25 developed sites, with Arlington City Council approval for the addition of three more pad sites
*City utilities are connected to the park trunk lines
*Recently upgraded some of the park's utility lines
*Replaced many of the electrical service poles last year
*Concrete Streets with asphalt overlay
*As of May 24, 2010, only one of the 25 developed pads is not leased up
*Pad occupancy has been highly stable for years
*600' of frontage on New York Ave which is a major thoroughfare and could
lend the property to a possible land play in the future if rezoned appropriately
*Significantly below-market lot rents and the current owner's charitable park rent concessions make an upside income potential that delivers great returns with only minimal effort (i.e Free January Rent)
Park Information
Community Type: | All Age |
Number of MH Lots: | 25 |
Total Occupancy: | 96.0 % |
Year Built: | 1967 |
Average MH Lot Rent: | $295 |
Size: | 5 acre(s) |
Park-Owned Homes
Number of Park-owned Homes: | 0 |
Average Rent for Park-owned Homes: | $0 |