Contact Information

Mobile Home Park Details

  • Price: $1,980,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.2%
  • Listing ID: 4621354
  • Posted On: Mar 7, 2024
  • Updated On: Mar 14, 2024

Description

*Please find the attached Offering Memorandum located at the bottom of this page*

Sea Garden Park: A 59 Unit mixed MH/RV
and quadplex community situated in Port Isabel, TX.
Conveniently located along Ocean Boulevard, just off
Laguna Madre, it offers exceptional accessibility and
visibility. The community provides City hookups for
Water and Sewer, ensuring ease of living for residents.
Positioned 6 miles from South Padre Island and 45
minutes from Elon Musk’s Boca Chica Starbase.
Musk has commitment to investing $30 million in
the Cameron County school district and surrounding
areas, this property epitomizes potential and holds
significant appeal for potential buyers.

Amenities

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

Park Information

Community Type: All Age
Number of MH Lots: 59
Total Occupancy: 90.0 %
Average MH Lot Rent: $516

Financial Information (Pro Forma)

Gross Income: $460,163
Operating Expense: $219,682
Net Operating Income: $240,481
Expense Ratio: 47.7 %

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: City

Download Documents

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