Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 11.0%
- Listing ID: 378188
- Posted On: Jun 15, 2013
- Updated On: Jul 22, 2014
Description
31-space wooded 11 Acre mobile home community in Angleton, Texas! Nearly all tenants are long term tenants making this a very easy property to run. Low Density Park with average lot size of almost 1/3 acre. Owner has a newly approved permit from the TCEQ for installation of a 30,000 GPD full WWTP for approximately 150 homes or run 1.2 miles to tie into city sewer. The sewer upgrade would allow the park to expand to 75 homes plus potential to acquire a small 12 space park next door and add it to the same system. Located in Angleton, Texas about 40 miles south of Houston.
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Park Information
Number of MH Lots: | 31 |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $210 |
Size: | 11 acre(s) |
Financial Information (Actual)
Gross Income: | $78,000 |
Operating Expense: | $15,000 |
Net Operating Income: | $63,000 |
Expense Ratio: | 19.2 % |
Lot Information
Doublewide Lots: | 31 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |