EXECUTIVE SUMMARY
This is a huge value add opportunity. 14 acres with newly paved roads and beautiful views along the creek. With 8 brand new park owned homes out here that are retailed for $480,000 alone at current sales prices. There are a total of 29 park owned homes. There are only currently 9 people that pay lot rent only. We have 10 total RV spots, but 6 are active with 4 rented. The other 4 spots need electric poles. There is 2% to the buyer side.
Right now, with the way this is ran, it is very hands off. Service lives onsite for free and rent collect/leaser lives on site for free. We have been giving the person leasing the homes half of the first month rent. The service person takes care of the well and the remodels and we pay her a little over $2,000 a month. This also includes the well maintenance and reporting.
Most tenants pay in cash, which is then deposited. We have attached all of our bank statements to the listing, as they handle everything including the well.
We have accurate financials, because we get everything deposited. There's room to add an already approved spots.6 This is located outside of the city, so you won't have to worry about the city of Victoria being on your case about everything.
This sell is for all of the homes and land!
PROPERTY FACTS
Price $3,000,000 Lot Size 14.00 AC
Sale Type Investment Building Size 50,000 SF
Cap Rate 7.40% Average Occupancy 90%
Sale Conditions High Vacancy Property No. Stories 1
Property Type Multifamily Year Built/Renovated 1980/2019
Property Subtype Manufactured Housing/Mobile Home Opportunity Zone No
Building Class C