LOCATION,LOCATION,LOCATION. 55 legal lots broken down as follows, 27 lots with PO homes in place ,4 HOA units, 6 ready for a new home and 18 lots partially finished with some remaining construction needed. Cap Rate on income alone is 11.20% with the added value included the cap rate is 14.00% Price is computed on the rental income alone,18 lots are a bonus. This unique, 55 unit high quality, community is located in the best area of Lufkin, TX and is situated on 7.89 ac surrounded by mini estates and higher end neighborhoods. This definitely "ain't your grandma's trailer park". If Pride of ownership and MHP Park seem like an oxymoron, you should check out our website www.thevillageofstonewood.com This is a clean, pretty, community with well enforced Rules and Regulations; the community concrete drive is 6” of 4500 PSI concrete with 5/8 rebar on 16” center over 4” of road base. All units have concrete, metal covered 2 car carports, (same specs as our drive) each unit enjoys wood fencing for maximum privacy. Most tenants are long term. This is a modern manufactured home 55+ community which of course allows for 20% of the residents to be under 55. The income is good and stable. Owners will stay on for a few months to accomplish a smooth transition. However, the current assistant manager is ready to take over, she is mature and has been a resident for the past 7 years and considers this her permanent home. Maintenance man in place as well. We have an excellent community culture all single family, quiet, decent, clean and friendly. Ease of management and very low repairs and maintenance. On city water and sewer. Each unit is metered separately and is read and billed by the city. Lufkin is certified by the State of Texas as a Certified Retirement Community. City trash service provided to each unit. Great upside potential. Please call in advance for appointment and do not speak to residents. Residents do not know park is for sale. Details too numerous to give here. Everything you need to operate the community is included, zero radius mower, pressure washer, hand mowers, 1998 Chevy 1 ton service truck, lots of tools. Financials will be furnished immediately upon request by email.
Call 936-333 -5282 or 760-815-8939 cell.
