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

Mobile Home Park Details

  • Purchase Method: New Loan
  • Cap Rate: 9.7%
  • Listing ID: 892963
  • Posted On: Jan 28, 2018
  • Updated On: Aug 24, 2018

Description

Back on the Market. Buyer fell through.
Bluebonnet Mobile home park is located in the Aldine area of Houston, TX. It is a 32 space mobile home park plus 1 rv spot that sits on 6.7 acres. The park owns 21 of the trailers and the other 11 own there own trailer and pay lot rent. The park has well water and septic tank with a low tax rate.
There is a high demand for affordable housing in this area and we turn down many possible tenants every month with no space available.

Will sell the park with out the trailers for 1,400,000 (income is over 11,400 per month)
or with the trailers for 1,625,000 (income is over 17,000 per month)

There is an acre in front and 1.95 acres on the side for future growth.

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

Park Information

Community Type: All Age
Number of MH Lots: 32
Total Occupancy: 100.0 %
Average MH Lot Rent: $350
Size: 7 acre(s)

Financial Information (Pro Forma)

Gross Income: $201,000
Operating Expense: $43,500
Net Operating Income: $157,500
Expense Ratio: 21.6 %
Debt Info: New loan

RV Information

Number of RV Lots: 1
Average RV Lot Rent: $300

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 21
Average Rent for Park-owned Homes: $622

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