Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 14.0%
  • Listing ID: 394543
  • Posted On: Aug 16, 2013
  • Updated On: Nov 19, 2013

Description

12 space mobile home park with positive cash flow. It has 9 park owned mobile homes on 2 acres, with city water and sewer. Easy on/off access to Interstate 10. Located just 8 miles east of Beaumont, Texas makes it an easy commute to the southeast Texas oil refineries and area businesses. Park has paved driveway with abundant security lighting. 7 homes are currently rented, one is in the process of remodel, and one currently being used as park storage. Three spaces for tenant owned mobile homes with one rented. Mobile homes have been well maintained. Six mobile homes have been recently remodeled. There is ample room to add two more spaces for future development and additional income. Average park owned mobile home rent is $450, with space rent for tenant owned mobile homes $210. Park has an onsite resident manager for maintenance and grounds keeping and this expense has been included in the operating expense. Shown by appointment only, please do not disturb the tenants.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 12
Size: 2 acre(s)

Financial Information

Gross Income: $41
Operating Expense: $13
Net Operating Income: $27
Expense Ratio: 31.7 %

Utility Information

Water: City
Sewer: City