Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Listing ID: 714524
- Posted On: Oct 19, 2016
- Updated On: Jan 19, 2017
Description
[Update: Under Contract]
Community is located in Lumberton, Texas (Beaumont/Port Arthur metro area), and is permitted by the city for 63 spaces.
Immediate area growth: 25% increase (pop: 11,850)
Metro (Beaumont) area growth: 2.7% increase (pop: 117,769)
Rent below market
All are developed and usable. Overall property condition is excellent and as Turnkey as possible for billing. ALL utility bills including TRASH are tenant paid and direct billed to by city. Infrastructure in very good condition includes paved roads, curbs, paved parking spaces, very uniform and clean lot layout, and uniform easy to maintain water/sewer lines and cleanouts.
There is little to no vacancy in the area. This park was professionally engineered like a subdivision. Rents are collected by tenant that is retired that would like to continue collected rent with a drop box located in front of home.
For a buyer that does not live in town or nearby this is a turnkey operation that would be very manageable with a local onsite or offsite part time manager
Park Information
Community Type: | All Age |
Number of MH Lots: | 63 |
Average MH Lot Rent: | $200 |
Size: | 9 acre(s) |
Financial Information
Gross Income: | $264,000 |
Operating Expense: | $128,000 |
Net Operating Income: | $149,000 |
Expense Ratio: | 48.5 % |
Debt Info: | n/a |
Lot Information
Singlewide Lots: | 62 |
Doublewide Lots: | 1 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Individual Service |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 56 |
Average Rent for Park-owned Homes: | $600 |