Photo of Mobile Home Park

Mobile Home Park Details

Purchase Method: Cash
Listing ID: 612278
Posted On: Dec 18, 2015
Updated On: Jun 20, 2016

Description

- Opportunity to acquire a stable, 36-site community in an attractive market 20 minutes from Austin, TX.
- With a median home value in a one-mile radius of over $450k, Gateway II Estates is strategically positioned to offer families affordable housing in a desirable, otherwise high cost of housing area.
- All homes tenant-owned or financed through a third party.
- Historical occupancy of community nearly 100%.
- Community features spacious half-acre homesites with off-street parking and privacy off the main road.
- The parcels are permitted for conversion to 33 duplexes, and in addition one single family residence for a total of 67 dwelling units with proper upgrades to water and septic systems.
- New construction should be in high demand in this expensive, rapidly growing market.

Location

- The scenic Gateway to the Hill Country, Dripping Springs attracts visitors with its vineyards, breweries, rolling landscape and crisp rockbottom creeks.
- A quaint bedroom community for Austin professionals wanting more space and a family-friendly atmosphere outside of the city. Infrastructure improvements are underway at the intersection of Highway 290 and 71, a well-known trouble spot for traffic, improving the commute to Austin.
- Dripping Springs High School, rated as a Recognized High School by the Texas Education Agency, and Walnut Springs Elementary School sit five miles from Gateway Estates.
- True to its small-town feel, Dripping Springs recorded a population of 1,902 in 2013. However, the city' s extraterritorial jurisdiction is home to nearly 30,000 and has seen rapid growth in recent years, spurring the introduction of several national and regional retailers within the city limits such as HEB, Whataburger and Home Depot, located less than four miles down Highway 290 from Gateway Estates.
- Home to several breweries, wineries and distilleries, Dripping Springs is one of the most heavily concentrated centers for alcohol-related businesses in the state.

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