Contact Information

Mobile Home Park Details

  • Price: $625,000
  • Purchase Method: Cash
  • Cap Rate: 10.9%
  • Property ID: 1136271
  • Posted On: Sep 20, 2019
  • Updated On: Oct 23, 2019

Property Description

Bay Area Mobile Home and RV Park is a 36 site mobile home and RV park located in San Leon, TX. The property is approximately 40 miles southeast of Houston, Texas. The asset consists of three separate parks that are all a few minutes from each other. The 36 total sites are made up of 20 RV spaces, 14 mobile home lots, and 2 park owned RV’s.

Bay Area Mobile Home and RV Park operates on city water and sewer. The park is currently master metered for water and electricity. The major roads throughout the park are asphalt and gravel. The current manager is open to staying onboard for future ownership.

San Leon is a vibrant town located on a peninsula just east of the city of Dickinson. The town supports a population of about 5,000 people and a large portion of jobs in the area revolve around the shrimp, fish, and maritime industries. San Leon serves as a popular vacation destination for visitors from Houston and surrounding areas.

Bay Area Mobile Home and RV park is being offered at a day one cap rate of 10.04% and a pro forma cap rate of 10.88%. The park offers future ownership a stabilized asset with an immediate high yield.

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Park Information

Number of MH Lots: 14
Total Occupancy: 97.0 %
Year Built: 1970
Average MH Lot Rent: $400
Size: 2.1 acre(s)

Financial Information (Actual)

Gross Income $143,382
Operating Expense $75,593
Net Operating Income $67,789
Expense Ratio 52.7 %
Debt Info

RV Information

Number of RV Lots: 22
Average RV Lot Rent: $330

Utility Information

Water: City
Sewer: City

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