Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park
Photo of Mobile Home Park

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

Interested in purchasing this mobile home park? Get pre-qualified for a loan.

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

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

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