Mobile Home Park Details
- Purchase Method: Cash, Assumable Loan
- Cap Rate: 4.7%
- Listing ID: 3404053
- Posted On: Jul 21, 2023
- Updated On: Aug 18, 2023
Description
Value-rich investment in Brazoria, Texas. Own a slice of serenity with a beautiful RV park, presenting a unique blend of potential income growth and expansion opportunities. Set on a 5.92-acre estate, our RV park boasts 34 cement lots with room for growth, ready for the ambitious investor to take it to new heights.
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Opportunity-Rich: This is a genuine prospect to tap into a successful RV park business that's ripe for expansion. With 34 all-cement lots currently and the capacity to grow to 52 spots with minimal investment, a visionary investor can seize the momentum and expand the park to its full potential.
Untapped Assets: The park has two wells, with one fully functional and equipped with a water treatment facility, and another one waiting to be tapped into - Great for building a new laundry room.
Future-Proofed: A natural sound barrier is in the works by the county, promising to bring a serene, gated ambiance to the park and enhancing its appeal to long-term residents.
Income Upside: Rents are currently set below market rates, offering a significant opportunity for income escalation in the future. With the addition of amenities like a laundry room and professional park management, an incoming owner can effectively double the park's revenue within 3 years.
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The Pro-Forma 5-year NOI is at $323,465 with an extraordinary cap rate of 17.9%
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This RV park offers an excellent opportunity to own a robust, future-proofed investment, providing a springboard to immense revenue growth for the astute investor.
Location
Prime Location: With its peaceful surroundings, yet convenient location, the park offers the best of both worlds - an oasis of tranquility that's just a stone's throw from local amenities and attractions.
The park is located 58 Miles South of Houston, and 19 miles north of Freeport.
Park Information
Community Type: | All Age |
Number of MH Lots: | 34 |
Total Occupancy: | 75.0 % |
Year Built: | 2016 |
Average MH Lot Rent: | $450 |
Size: | 6 acre(s) |
Financial Information (Actual)
Gross Income: | $159,269 |
Operating Expense: | $74,398 |
Net Operating Income: | $84,870 |
Expense Ratio: | 46.7 % |
RV Information
Number of RV Lots: | 34 |
Average RV Lot Rent: | $450 |
Utility Information
Water: | Well |
Water Paid By: | Tenant - Submetered |
Sewer: | Septic |