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Golder MHP

Land Lease Community for Sale in Odessa, Texas

6107 N. Golder Ave.
Odessa, TX 79764

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Mobile Home Park for Sale

Number of MH Lots: 13
Cap Rate: 10.0%
Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
Status: Active
Property ID: 68333
Posted on: Mar 18, 2011
Updated on: Jan 12, 2012

Property Description

13 space MHP with 10 park owned homes. 9 of the homes are on new contracts to sell to tenants (around $180k in value right there). The tenth home is rented out to a long term tenant.
The property is just outside of the city so doesn't have to deal with city regulations. The property has its own water well that servers the park and tenants pay their own utilities.
The only utilities paid by the park is for the well pump.
The park also pays for trash pickup.

Location Description

Odessa has one of the lowest unemployment rates in the country and has shown an over 10% population growth in the last ten years. The economy was originally based on oil production but has diversified over the last 20 years.
Odessa is the twin city of Midland which was the hometown of G.W. Bush.

Park Information

Number of MH Lots:13
Total Occupancy:76.0%
Average MH Lot Rent: $200

Financial Information (Actual)

Gross Income$47,000
Operating Expense$11,000
Net Operating Income$35,000
Expense Ratio 23.4%
Debt Info

Lot Information

Singlewide Lots:11
Doublewide Lots:2

Utility Information

Water:Well
Water Paid By: Park
Sewer:Septic

Park-Owned Homes

Number of Park-owned Homes:10
Average Rent for Park-owned Homes: $550