Photo of Mobile Home Community
Photo of Mobile Home Community
Photo of Mobile Home Community

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 11.2%
  • Listing ID: 327833
  • Posted On: Nov 5, 2012
  • Updated On: Nov 10, 2013

Description

Fabre Mobile Home Park is situated on 7 acres or rural property four minutes north of Lubbock Texas. The park has 48 spaces, 38 of those space are occupied by owner rentals. The property has licensed private water system that includes RO water for drinking and and licensed sewer system. The streets are paved and the owners have recently updated the rentals with new flooring, electrical, plumbing and sewer. Actual yearly cash flow $152,880, with full occupancy the rent are $185,040. Some financing possible. Owner selling for health reasons.

Amenities

  • Handicap Accessible
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Park Information

Community Type: All Age
Number of MH Lots: 48
Total Occupancy: 62.0 %
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $171
Operating Expense: $68
Net Operating Income: $85
Expense Ratio: 39.8 %
Debt Info: no debt

Lot Information

Singlewide Lots: 30
Doublewide Lots: 16

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 30
Average Rent for Park-owned Homes: $437