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Mobile Home Park Details

  • Price: $2,435,000
  • Cap Rate: 7.7%
  • Listing ID: 6606204
  • Posted On: Jul 12, 2024
  • Updated On: Sep 9, 2024

Description

- Discover a lucrative opportunity with this multi-family property boasting 80 lots on 7 sprawling acres. There is currently 70 occupied with 10 vacant lots for a value add opportunity.
- Featuring a mix of tenant-owned homes and short-term rent-to-own options, this all-ages park offers a low-maintenance investment with city water and sewer services.
- Enjoy the convenience of residents handling their own utilities, while the park's paved roads and online payment systems streamline operations.

Location

- Nestled in a high-demand area just 15 minutes from Weslaco, this peaceful community is surrounded by popular amenities like McDonald's, Dollar General, and Whataburger, ensuring a prime location for sustainable returns.
- This property is located in Cameron county, within the Metro Area of Brownsville Harlingen Metro Area. The Brownsville, TX Metropolitan Area is a lively area situated on the southern tip of Texas. From its stunning beaches to its vibrant historical sites, there's something for everyone in this picturesque location. Visitors can explore Fort Brown and Fisherman's Wharf or take a peek at the famous Birding Center of South Texas. Brownsville also offers plenty of shopping, dining and nightlife options to keep any traveler busy during their stay.

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Park Information

Number of MH Lots: 80
Total Occupancy: 87.5 %
Size: 7 acre(s)

Financial Information

Gross Income: $451,635
Operating Expense: $183,334
Net Operating Income: $186,522
Expense Ratio: 40.6 %

Utility Information

Water: City
Sewer: City

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