Mobile Home Park Details
- Listing ID: 5882990
- Posted On: May 23, 2024
- Updated On: Sep 12, 2024
Description
JTACR has been selected to market the disposition and sale of this MH & RV Community just a short 50 minute drive from Dallas.
The offering consists of 86 units and just under 20 acres of lakefront land.
Currently under contract, this deal presents the buyers with the opportunity to fill the vacancies, improve overall aesthetic of the community, and possibly expand the site count with city approvals. More importantly, this property is a strong addition to an already strong portfolio.Prior to bringing this deal onto the market, JTACR brought the seller multiple offers from national and regional operators, all above the target asking price.
With multiple offers to choose from, the sellers selected an out of state buyer, with a strong portfolio, a local presence, and offering the strongest terms.
Here's what makes this deal interesting:
- 1 hour drive from DFW
- Lot rents above $500 per month
- Opportunity to infill the vacancies to further strengthen the NOI
- Inside city limits
- Legally non-conforming use with city utilities
Park Information
Number of MH Lots: | 86 |
Size: | 19 acre(s) |
Financial Information (Actual)
Net Operating Income: | $210,000 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |