Contact Information

Mobile Home Park Details

  • Price: $425,000
  • Purchase Method: Cash, Seller Financing
  • Property ID: 1180761
  • Posted On: Jan 17, 2020
  • Updated On: Jan 25, 2020

Property Description

LOWEST PRICE EVER FOR THIS DIAMOND IN THE ROUGH PARK!! NEED CASH FOR MEXICAN CONDO PROJECT!

KINDLY READ ALL ASPECTS OF THIS LISTING BEFORE RESPONDING! VERY IMPORTANT!

PLEASE DO NOT DISTURB TENANTS. Ok to drive through but do not identify that you are a prospective buyer please!

TITLE INSURANCE IS NOW AVAILABLE THROUGH LOCAL TITLE COMPANY!

BUYER PURCHASED WITH QUIT CLAIM DEED FROM FAMILY WHO OWNED PARK FOR OVER 50 YEARS.

SELLER HAS OWNED PARK FOR OVER 10 YEARS. NO LIENS OR ISSUES. Survey (recent) available.

South Texas MH/RV/ Park with city water and sewer. All individually metered for electric (we read meters on last day of month and bill tenants).

This is a rough around the edges C- Park with excellent cash flow. Needs TLC.

Aprox 2 acres with 2 bdrm/1full ba home with separate (attached) office(w/half bath) or retail area with patio and newer 3 car garage. Ample workshop/barn like area. May be possible to convert both garage and barn to 3 studio apartments for additional income. Utilities close.

Absentee owner lives in Mexico. OWNER SELLING TO START CONDO PROJECT IN PLAYA DEL CARMEN AREA. No financing in Mexico, hence seller prefers minimal half cash down w/ 5-7 year SELLER FINANCING possible on balance or full cash (with discount). PREFERABLE .

On main highway and next door to 2 landmark Mexican restaurants on either side just outside McAllen Texas, in Edinburg. Please Google area as one of the fastest growing in America. Also Google Earth to see areas for possible added spaces.

Excellent management may or may not stay on board. Manager does not live on premises.

90% long term working class tenants. Pay on time as we give only 5 days grace and insist on $25 late fee which seldom needs to activate.

Smaller park next door recently added more spaces, did some road work and cosmetic work and charges $300.

Recently added new sign, new 6" drain lines and electrical updates from old to new digital meters that solved a major concern. Some road work and fill in of low areas also done. Could use painting and landscape work. Enclosure for trash receptacles too.

Also possibility of ADDING 8-10+ MORE SPACES (TOTAL 50+) Perfect opportunity to pull in your own units and rent to own to new tenants for top value income. Plenty of parking.

Amenities

  • Storage
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Park Information

Number of MH Lots: 40
Total Occupancy: 85.0 %
Year Built: 62
Average MH Lot Rent: $260
Size: 2.0 acre(s)

Financial Information (Actual)

Gross Income $8,500
Operating Expense $4,000
Net Operating Income $4,500
Expense Ratio 47.1 %
Debt Info

Lot Information

Singlewide Lots: 4
Park Model Lots: 36

RV Information

Average RV Lot Rent: $260

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0