Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 10.5%
- Listing ID: 210785
- Posted On: Jul 2, 2012
- Updated On: Jan 2, 2015
Description
166 space park on over 31 acres. Convenience store rented to operator.
Currently 152 spaces rented plus 2 commercial.
No park owned homes - space rentals only.
$36,645 monthly rent roll plus $3,762 water/sewer. Park owns water and sewer plants.
16 to 24 additional spaces could be added at cost of approx. $30-35,000.
Health issues lead to sale.
Location
On CR 128, 2 miles from Texas Highway 35, between Pearland and Alvin.
Approximately 25 miles from downtown Houston. Outside of city ordnances, jurisdictions, and taxes.
Amenities
- Pool
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 166 |
| Total Occupancy: | 91.5 % |
| Year Built: | 1976 |
| Average MH Lot Rent: | $238 |
| Size: | 31 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $510 |
| Operating Expense: | $126 |
| Net Operating Income: | $384 |
| Expense Ratio: | 24.7 % |
| Debt Info: | Bank loan |
Lot Information
| Singlewide Lots: | 135 |
| Doublewide Lots: | 16 |
RV Information
| Number of RV Lots: | 15 |
| Average RV Lot Rent: | $180 |
Utility Information
| Water: | Well |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | Treatment Plant |
