Mobile Home Park Details

  • Purchase Method: Seller Financing, New Loan
  • Cap Rate: 95.0%
  • Listing ID: 419667
  • Posted On: Dec 31, 2013
  • Updated On: Apr 5, 2014

Description

Deep in the heart of the Rio Grande Valley, where the palm trees wave in the warm breeze, rests the Texan Mobile Park. This 20-acre mobile home and RV resort is ideally located next to the McAllen Convention Center and within walking distance to numerous shops and excellent restaurants. The park is adorned with gorgeous shade and fruit trees and well-manicured gardens. It features 165 spacious mobile home lots, 110 RV spaces with full hook ups, 16 newly re-modeled efficiency apartments, and a manager’s suite. Residents enjoy non-stop activities at the two club houses and swim in the heated pool. Additional amenities include three shower houses, two laundry facilities and a shuffleboard court. All sites are individually metered for water, gas and electric and invoiced accordingly, based on current rates. After 40 years of overseeing operations, the owner is ready to retire. The park’s gross income for 2012 was approximately $570K, and is estimated to be $615K for 2013. Visit the park’s website at www.texanmobilepark.com for additional information. Select the directions for a birds eye view of the park via Google Maps. To request additional information, please contact 956-451-9298.

Amenities

  • Laundromat
  • Pool
  • Storage
  • Club House
  • Handicap Accessible
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Park Information

Community Type: 55 And Over
Number of MH Lots: 165
Total Occupancy: 95.0 %
Average MH Lot Rent: $197
Size: 20 acre(s)

Financial Information (Pro Forma)

Gross Income: $615,000
Operating Expense: $282,000
Net Operating Income: $333,000
Expense Ratio: 45.9 %

Lot Information

Singlewide Lots: 165

RV Information

Number of RV Lots: 110

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City