Forest Oaks Village
Forest Oaks Village
Many Large Oak Trees
Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.0%
- Listing ID: 106700
- Posted On: Oct 12, 2011
- Updated On: Jul 17, 2014
Description
Well kept secret in South Austin. Great Location for this Mobile Home Park, 1.9 miles west of IH35. Many long-term tenants and very well maintained and managed. Park is 6.7 Acres in Manchaca with 32 lots . Paved Street with concrete parking pads and sidewalks. Private Water and Wasetwater System with income from water sales. Large old trees with frontage on FM 1626. Property includes 10 homes owned by current Seller.
Location
Forest Oaks Village is located in Machaca (So. Austin); 1.9 miles west of IH 35.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 32 |
| Total Occupancy: | 93.0 % |
| Average MH Lot Rent: | $325 |
| Size: | 7 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $144,480 |
| Operating Expense: | $21,000 |
| Net Operating Income: | $123,480 |
| Expense Ratio: | 14.5 % |
Lot Information
| Singlewide Lots: | 32 |
Utility Information
| Water: | Well |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 10 |
| Average Rent for Park-owned Homes: | $600 |