Mobile Home Park Details
- Cap Rate: 4.8%
- Listing ID: 1945471
- Posted On: Nov 30, 2022
- Updated On: Jan 6, 2023
Description
•Pine Haven RV & Mobile Home Park has a total of 171 lots which are broken down into 97 covered RV spaces, 63 uncovered RV spaces and 11 Mobile Home lots.
•Currently the spaces are occupied by 90 Rv's, 7 tenant owned homes and 3 park owned homes. There are a total of 70 vacant RV spaces and one vacant mobile home lots. There is also a 50’ x 110’ warehouse located in the corner of the park.
• Pine Haven, is a a quiet community, and has great upside potential with occupancy and rental rate increases!
• In November 2022 Chevron Phillips Chemical Company LLC and QatarEnergy have announced that they are proceeding with the construction of an $8.5 billion integrated polymers facility in Orange, Texas, expected to create more than 500 full-time jobs and approximately 4,500 construction jobs and generate an estimated $50 billion for the community in residual economic impacts.
Location
•Located in Western Orange County, Vidor Texas is located directly Northeast of Beaumont Texas. The mobile home park is easily accessible by Interstate-10, with a quick 16 minute drive to Beamon Municipal Airport. Vidor is a great bedroom city for the nearby refining complexes in both Beaumont and Port Arthur.
•The park is on city sewer and water which are currently master metered and included in all of the RV tenants rent. The tenant owned homes are billed back for their water usage.
• Electric is individually metered, included in RV rent and the tenant owned homes are billed back for their usage.
Park Information
| Number of MH Lots: | 171 |
| Total Occupancy: | 58.0 % |
| Average MH Lot Rent: | $300 |
| Size: | 14 acre(s) |
Financial Information (Actual)
| Gross Income: | $510,986 |
| Operating Expense: | $157,766 |
| Net Operating Income: | $353,220 |
| Expense Ratio: | 30.9 % |
Lot Information
| Singlewide Lots: | 8 |
RV Information
| Number of RV Lots: | 160 |
| Average RV Lot Rent: | $500 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |