Contact Information
Mobile Home Park Details
- Price: $3,410,000
- Cap Rate: 6.5%
- Listing ID: 6748895
- Posted On: Oct 15, 2024
- Updated On: Oct 15, 2024
Description
Maple Leaf is a newly expanded 33-site community in Northeast Houston. Conveniently located near I-69, Houston Intercontinental Airport (IAH), and Beltway 8, it offers excellent employment opportunities and easy access throughout the metro area. The property has city water and sewer services, which are sub-metered and billed directly to residents.
Maple Leaf offers a great opportunity to purchase a stabilized asset in Houston. Houston continues to grow and solidify itself as a top MSA for manufactured housing with rent growth potential across the market. The property presents a value-add opportunity through converting the park owned rentals to home sales and reducing operating expenses associated with the park owned homes moving forward.
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Park Information
Number of MH Lots: | 33 |
Year Built: | 1993 |
Size: | 3 acre(s) |
Financial Information
Net Operating Income: | $182,560 |
Utility Information
Water: | City |
Sewer: | City |