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Platinum Properties 2501 Lone Tree, Victoria, TX 77901

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Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 25.0% (Actual)
  • Listing ID: 69170
  • Posted On: May 5, 2011
  • Updated On: Jun 10, 2011

Description

I am selling 15 mobile homes set up in a park in Victoria, TX. 10 are 2005 models and the rest range from 1985 to 1996. They are 100% occupied and stay that way. The rental market is great and getting better due to the new catepillar plant being built that will add over 450 new jobs. I am only selling due to the fact that i need the funds for something else.

Location

Centrally located.

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Park Information

Community Type: All Age
Number of MH Lots: 15
Total Occupancy: 100.0 %
Year Built: 2005
Average MH Lot Rent: $718

Financial Information (Actual)

Gross Income: $129,300
Operating Expense: $51,131
Net Operating Income: $78,169
Expense Ratio: 39.5 %

Lot Information

Singlewide Lots: 15

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 15
Average Rent for Park-owned Homes: $718

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