Three Rivers MHP & RV Park is a diversified commercial income property that is comprised of 23 mobile home pads, 50 RV pads, 10 storage units, & a 2,100 SQ FT single family residence located on 13.147 acres in Del Rio, TX (metro of 52,000). The park is believed to have been developed in the early 1970's and has served the community by offering an affordable housing option since that time. The property is zoned commercial. The park is not located in a flood zone. The park is presently managed by a 3rd party professional management firm. The park also has a maintenance man.

The park is comprised of one tax parcel. There are currently not any trailers that need to be removed from the premises. Of the 19 occupied mobile home pads in the park, all 19 of the trailers are TOH's currently averaging between $333 & $350/month. The 12 occupied RV pads are currently paying $250/month. The house is currently rented for $350/month. The current owner is bringing the pad rental rates up to market levels. The park utilizes annual leases.

Three River MHP is on private well & septic. The underground pipe material is believed to be PVC. Residents are direct billed for electricity by the utility provider. Garbage is paid for by the park. The road through the park is gravel and is considered to be in "good" condition by the owner. The tenants mow their own pads and the park mows the common areas in the MHP section, and the park maintains all of the grounds for the RV portion of the property.

Since the owner purchased the park he has tackled some deferred maintenance and capex needs to the tune of $30,000 including replacing water tanks, repairing water lines, upgraded septic, repaired & repainted the community room, installed a new sign, and cleared debris.

If the owner was going to continue to operate the park going forward he would concentrate on adding RV's to rent, overall park promotion, and putting in storage units.

Jennifer Stein Real Estate, Inc is a licensed real estate entity in the State of Texas under license #9012035. David Montalvo is the Designated Broker of Jennifer Stein Real Estate, Inc and is licensed under #595597. Jonathan Fisher is a cooperating out of state commercial broker and is licensed in Illinois under license #471.020503.