Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 12.2%
- Listing ID: 4621354
- Posted On: Mar 7, 2024
- Updated On: Oct 29, 2024
Description
*Please find the attached Offering Memorandum located at the bottom of this page*
Sea Garden Park: A 59 Unit mixed MH/RV
and quadplex community situated in Port Isabel, TX.
Conveniently located along Ocean Boulevard, just off
Laguna Madre, it offers exceptional accessibility and
visibility. The community provides City hookups for
Water and Sewer, ensuring ease of living for residents.
Positioned 6 miles from South Padre Island and 45
minutes from Elon Musk’s Boca Chica Starbase.
Musk has commitment to investing $30 million in
the Cameron County school district and surrounding
areas, this property epitomizes potential and holds
significant appeal for potential buyers.
Amenities
- Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 59 |
| Total Occupancy: | 90.0 % |
| Average MH Lot Rent: | $516 |
Financial Information (Pro Forma)
| Gross Income: | $460,163 |
| Operating Expense: | $219,682 |
| Net Operating Income: | $240,481 |
| Expense Ratio: | 47.7 % |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |