Mobile Home Park Details
- Cap Rate: 7.5%
- Listing ID: 802116
- Posted On: Apr 10, 2017
- Updated On: Dec 30, 2021
Description
Set over 10 acres and consisting of 109 sites, the all-ages Parkview Mobile Home Park boasts a 100% occupancy rate, filling all spaces! 88 lots are designated MH spaces and 21 are RV Sites. 100-Amp electric hookups on RVs.
Water, Sewer, Gas and Electric are serviced by the city and are all sub-metered; Electric is billed-back, while water and sewer are currently included in the rent (although they can be billed-back at any time).
Approximately 2 1/2 years ago, the owner spent $350,000 readying the gas lines to be in compliance of the Railroad Texas Commission.
Chain link fence surrounds the property and there are 2 concrete storage buildings.
No debt on the property. Seller Financing is Not Available.
Click the Link for an Offering Memorandum: https://wwws.stagexchange.com/strattongroup/TX5
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 109 |
| Total Occupancy: | 100.0 % |
| Average MH Lot Rent: | $260 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $248,564 |
| Operating Expense: | $98,564 |
| Net Operating Income: | $150,000 |
| Expense Ratio: | 39.7 % |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |