Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.0%
- Listing ID: 279763
- Posted On: Sep 26, 2012
- Updated On: Apr 19, 2013
Description
WOW, this is a rare opportunity to purchase a 28 site senior (age 55+) mobile home community within 3 blocks of beautiful Lake LBJ in the Texas Hill country close to Austin. The property was built in 1998 and is 4.17 acres. Of the 28 sites, 14 have water, sewer and electric. The remaining 14 sites have electric but need water and sewer which is located at the street and provided by public utility companies. There are currently 9 homes and a metal shop on the completed sites. Four homes and the metal shop are park owned. The Lake LBJ park includes a boat ramp, fishing and swimming piers, picnic tables and a great view of the lake. Kingsland is a popular area for "Winter Texans" coming south during each winter season. Many of them rent or buy homes in the area. The completion of the park could be an opportunity to provide housing to this group.
Financial Information
Gross Income: | $48,120 |