Mobile Home Park Details
- Purchase Method: Cash
- Cap Rate: 12.1%
- Listing ID: 417008
- Posted On: Dec 2, 2013
- Updated On: Jun 7, 2014
Description
Very high cash flow business, easy to run remotely, manager on site, great potential for increased occupancy and cash flow. TTM NOI is $120,597; depreciation is $35,828 for excellent tax position.
The Manzanita Park mobile home parks are two neighboring parks established in 2010 and 2011 with all new construction. Nine single wide units (2010-2011 Clayton, Palm Harbor), Ten studio apartments, three one-bedroom apartments, 12 x 2-unit storage buildings. Opportunity to increase cash flow by increasing occupancy and renting out on-site storage.
City water and sewer from Carrizo Hill.
Carrizo Springs is a rapidly growing suburb of approximately 10,000 people in between San Antonio and Laredo experiencing a significant shortage of high quality, rent-able housing. These two parks are 1 mile from city center in the named district of Carrizo Hill. Additional land for significant expansion can be made available.
Utility Information
Water: | City |
Sewer: | City |