Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 660039
- Posted On: Apr 28, 2016
- Updated On: Aug 2, 2016
Description
16 Space Mobile Home Park
Small family mobile home community perfectly located in a very quiet area of the Texas Gulf Coast between Rockport and Aransas Pass. The property is a low density park and offers country style living with lots of beautiful live oak trees and nice lawns, but only a couple miles from downtown central shopping areas. Most residents have lived at the park for years and some use their homes on a seasonal basis. Housing demand in the area is high because business in the area is booming with construction of new LNG export facilities, shipyard fabrication expansion, and new steel mill. The property is located only a few miles from several boat ramps, marinas and tourist hotspot of Port Aransas. Grounds are maintained by on-site tenant and we have contracts in place for all required service providers. The park does have some room for expansion and rents in the area are steadily on the increase. There is plenty of upside to this property over long term. This is a good opportunity for absentee owner. My wife and I have managed the park for last several years while living 4 hours away.
Peppers Park Consists of: 16 Lots
10 - Park Owned homes
5 - Land Lease Lots
1 – Currently Empty lot
Utilities: _
Electric - Tenants responsible for paying their own electric. Each space is separately metered.
Water- Provided by Owner via onsite water well
Sewer- The property has (3) Hoot Aerobic treatment systems. Maintenance contract with local service provider.
Trash- Park provided (contract in place)
Park Information
Community Type: | All Age |
Number of MH Lots: | 16 |
Total Occupancy: | 95.0 % |
Average MH Lot Rent: | $602 |
Size: | 5 acre(s) |
Financial Information
Gross Income: | $58 |
Operating Expense: | $13 |
Net Operating Income: | $45 |
Expense Ratio: | 22.4 % |
Debt Info: | none |
Lot Information
Singlewide Lots: | 16 |
Doublewide Lots: | 0 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | Septic |
Park-Owned Homes
Number of Park-owned Homes: | 10 |
Average Rent for Park-owned Homes: | $688 |