Mobile Home Park Details
- Purchase Method: Seller Financing, New Loan
- Listing ID: 18053
- Posted On: Nov 9, 2010
- Updated On: Jan 5, 2011
Description
Investment: The subject property is a 102 space RV/ mobile home park
in Sharyland. The park is located in the Sharyland school district, a top
performing Rio Grande Valley school district.
Sharyland RV Park is just minutes away from Highway 281 and
Highway 83. The property has on-site parking for both tenants and
guests. The property sits on approximately five acres of highly sought
after land on a major thoroughfare. Rents include electricity for select
tenants, water, cable, internet and trash.
Condition: The property is in good condition, and new owner should consider more aggressive advertising to increase occupancy. Pricing: The property is priced at $1,000,000. At list price, pro forma
projected returns are 72 percent. Owner financing is available and the terms are negotiable.
Demand Drivers: With over 600 parks throughout the Rio Grande Valley, which Northerner's and Canadian's flock to during the winter time, an agressive owner can potentially capture a huge marketshare quickly and turn this park around. With the peak season around the corner, a new owner can potentially capture the upswing in revenue. In addition to the one million inhabitants on the American side of the Rio Grande
River. Mission, Texas is just minutes north of the two million residents of Reynosa and Matamoros, popular manufacturing centers in Northern Mexico. America’s newest International Bridge, the Anzalduas
Bridge is crossing from Reynosa Mexico into Mission, Texas. This newest International Bridge, the NAFTA Free Trade Agreement and construction of Toyota’s newest automotive manufacturing plant in San
Antonio, have combined to create an unprecedented population and economic investment boom in Mission, Texas.
Location
Location: Sharyland Villas is located on Shary Road and is perfect for
RVers who enjoy being in a more secluded location with the comforts of
the Major McAllen MSA amenties. Sharyland Villas is close to all the
conveniences of town including restaurants, eateries and major
hospitals which Winter- Texans demand. Mission Hospital’s newly
expanded state-of-the-art, acute care facility with a full service
emergency unit offering “Fast Track†urgent care, a rehabilitation unit,
an intensive care unit, a complete continuum of outpatient services and
a caring and compassionate staff to serve the needs of Winter Texans.
Amenities
- Laundromat
- Pool
Financial Information (Actual)
Gross Income: | $58,752 |
Operating Expense: | $39,970 |
Net Operating Income: | $18,782 |
Expense Ratio: | 68.0 % |
RV Information
Number of RV Lots: | 102 |
Average RV Lot Rent: | $300 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |