Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 4.0%
- Listing ID: 6694957
- Posted On: Aug 14, 2024
- Updated On: Dec 16, 2024
Description
Spring Crossing Mobile Home Park, San Antonio Texas (14.88 acres) located at 7320 New Sulphur Springs Road, San Antonio, Texas 78263.
Land: 14.88 acres (Mobile Home Park located in ETJ )
o Frontage +/- 3 acres (potential RV expansion) is in the 100 flood plain
o Warehouse Building (building size +/- 12,000sf; potential leasing income)
o Land w/ Developed Lots +/- 6 acres (currently 23 MH); paved road through the park
o Undeveloped Land +/- 5 acres (potential MH Lots expansion)
23 Mobile Home Lots (tentatively 1 vacant lot)
Septic’s:
o 20 Septics for MH
o 3 Aerobic Systems for MH
o 1 Aerobic Systems for Shop
Sewer Expansion Planned (completion estimated July 2024):
o Plans include Lift station (8,000 EDUs) across the street from MHP
Location
Located at 7320 New Sulphur Springs Road, San Antonio, Texas 78263. Outside Loop 410. Close to shopping and restaurants.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 23 |
| Total Occupancy: | 95.0 % |
| Year Built: | 1980 |
| Average MH Lot Rent: | $400 |
| Size: | 15 acre(s) |
Financial Information (Actual)
| Gross Income: | $106,800 |
| Operating Expense: | $44,280 |
| Net Operating Income: | $62,520 |
| Expense Ratio: | 41.5 % |
Lot Information
| Doublewide Lots: | 23 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
