Call 214-906-2726

Say that you are are calling about a mobile home park on MobileHomeParkStore.com

Address is Burkburnett, TX 76354

Tyler Nix


or, Send a Message:

Message:

$175k with Potential for 60k NOI

Mobile Home Park for Sale in Burkburnett, Texas - Price Reduced!

Burkburnett, TX 76354
View on Map
Sale Price: $175,000

Mobile Home Park for Sale

Number of MH Lots: 22
Size: 5 acre(s)
Purchase Method: Cash, Seller Financing, New Loan
Status: Active
Property ID: 789100
Posted on: Mar 01, 2017
Updated on: Mar 17, 2017
Price: $175,000

Property Description

UPDATES MADE BASED ON NEW INFO FROM SITE VISIT

22 Lots - 8 occupied currently
$130/month Lot rents currently
All directly submetered utilities - (even trash is billed through the city)
6 park owned homes come with it; but most need some rehab to be move-in ready
Asking price is $175k
Seller Financing offered:
$55k down
$860/month (20 yr amortization @ 6%)
Expense ratio is extremely low as the city water meters are directly outside each mobile home; and 1/2 of the streets are city built and maintained.

The purchase includes an adjoining (3) acre plot that can be developed into a mobile home park as well (Confirmed per the City). An additional (+/-26) lots are possible. Once full, this could add another $32k to the NOI for a total of $60k per year potential with a lot rent bump to only $150/month.

Each lot comes with a large yard and they are all individually fenced in.

This property will be sold on a contract assignment.

Attachments

2016 P&L.xlsx

Park Information

Number of MH Lots:22
Total Occupancy:36.0%
Average MH Lot Rent: $130
Size:5.0 acre(s)

Lot Information

Singlewide Lots:22

Utility Information

Water:City
Water Paid By: Tenant - Individual Service
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:6