Contact Information

Mobile Home Park Details

  • Price: $2,000,000
  • Purchase Method: Cash, New Loan
  • Land: This is land for developing a mobile home park
  • Property ID: 1113145
  • Posted On: Jul 30, 2019
  • Updated On: Nov 7, 2019

Property Description

Incredible, opportunity to purchase mobile home park WITHIN the city limits, with a plat for development already permitted by the city.

*This is a DEVELOPMENT opportunity. There is current cash flow. However, pricing is NOT based on the cash flow.

The community is right in the center of West Tawakoni, just an hour from Dallas, and a 5 minute drive to the lake.

The property is platted for a total of 179 homes.

31 pad sites (15 fully developed-with homes, 16 partially developed)
-15 homes installed (13 park owned, 2 tenant owned)-FULLY occupied
- 3 double wides ordered, pre-leased, and to be delivered Fall 2019
- Lot sizes are 6300 sq ft, so home number could be increased to 210

Park was purchased and started in 2017

Tenants pay all utilities

1000-1200/mo for home rentals; 400-500/mo for lot rental (single wide vs double wide)

NOI annual $145,488.00 (See Financials)= 7.3% cap rate

6 2018 Clayton FEMA homes; 7 2019 Clayton homes (1 double wide-TRU)

Estimated cost/pad:
-For remaining 16 (of the 31), $10,000 per unit- to include trenching and plumbing/electric/hook up of home
-For remaining 148, on the 38 acres (planned and zoned already), $25-28,000 per unit- to include asphalt, pad site completed and ready

Between Greenville, Rockwall, Forney, Terrell (20 mi from each)

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

Park Information

Community Type: All Age
Number of MH Lots: 31
Year Built: 2017
Average MH Lot Rent: $1,100
Size: 38.0 acre(s)

Utility Information

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

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