Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

Mobile Home Park Details

  • Cap Rate: 6.2%
  • Listing ID: 621533
  • Posted On: Jan 21, 2016
  • Updated On: Apr 22, 2016

Description

Marcus & Millichap is pleased to present Lakeside Village &
Evergreen MHP located in Wichita Falls, TX. The two parks
consist of 323 sites with all city utilites and the opportunity
to scale operations due to nearby locations. Wichita Falls is
a North Texas city of over 100,000 and the two parks are
roughly one mile apart. The city is home to Midwestern
State University and a major Air Force training base.
Lakeside Village consist of 184 sites with 72 percent
occupancy and has an average lot rent of $160 to $175. It
has an average mobile home rent of $325 to $380 per site.
Evergreen MHP has 121 mobile homes and 18 RV spots
with 35 percent occupancy. There is self-storage units and
industrial shop rentals. The average lot rent is between
$160 to $175. The mobile home rent is $325 to $380 per
site and the RV spaces go for $275 a month.

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Park Information

Community Type: All Age
Number of MH Lots: 323
Total Occupancy: 54.0 %
Year Built: 1980
Average MH Lot Rent: $170
Size: 57 acre(s)

Financial Information

Gross Income: $392,056
Operating Expense: $267,179
Net Operating Income: $124,877
Expense Ratio: 68.1 %

Lot Information

Singlewide Lots: 305

RV Information

Number of RV Lots: 18
Average RV Lot Rent: $275

Utility Information

Water: City
Sewer: City

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