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Mobile Home Park Details

  • Price: $2,200,000
  • Cap Rate: 7.1%
  • Listing ID: 6606607
  • Posted On: Jul 12, 2024
  • Updated On: Sep 20, 2024

Description

- Discover a lucrative investment opportunity with this multi-family property at 635 Yorktown Blvd #37, boasting 54 lots including the office, situated on a 7-acre park.
- This property offers a mix of manufactured homes and RVs, with 90% of tenants on long-term leases and 10% on short-term agreements. Water is included in the rent. The roads are chipseal roads.
- With the majority of homes being tenant-owned, the park is not responsible for maintenance, ensuring a hassle-free investment experience.
- This property has city water & 10 recently updated septic tanks, individually metered electricity with bill-back options, and an onsite laundry facility, making this property a standout choice for savvy investors looking to maximize ROI.

Location

- Located in Nueces County

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Park Information

Number of MH Lots: 54
Total Occupancy: 63.1 %
Size: 10 acre(s)

Financial Information

Gross Income: $414,364
Operating Expense: $148,621
Net Operating Income: $156,789
Expense Ratio: 35.9 %

Utility Information

Water: City
Sewer: Septic

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