Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Land: This is land for developing a mobile home park
  • Cap Rate: 9.1%
  • Property ID: 1191986
  • Posted On: Feb 17, 2020
  • Updated On: May 13, 2020

Property Description

JTACR is pleased to present Liberty Hill Mobile Home Park for sale.

Liberty Hill is a cozy, family operated community located just off of State Hwy 37, a few miles south of Interstate 30, in the heartbeat Texas town of Mount Vernon. The property is located 105 miles east of Dallas, 14 miles south of I-30, and 25 miles from its sister community, which is also for sale.

Liberty Hill is located near multiple mass employers such as Lowe’s Distribution Center, Big Tex Trailers, Jordan Health Services. Other occupations include management, material moving, and administrative support. With its convenient location to these mass employers, many tenants choose to stay in this quiet, close knit community long term.

Current ownership is onsite. The park stays near full occupancy. The owner does not market or advertise. All business is generated via word of mouth.

Upside potential includes an opportunity for expansion, with the property being 19.5 acres and approximately 50% utilized. Rents were raised in January of 2020. 2019 rents ranged from $425-$720 based on home size, length of lease and number of tenants. Comparable home prices range from $750-$800.

Location

Located just off of State Hwy 37, a few miles south of Interstate 30, in the heartbeat Texas town of Mount Vernon. The property is located 105 miles east of Dallas, 14 miles south of I-30.

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

Park Information

Community Type: All Age
Number of MH Lots: 25
Total Occupancy: 98.0 %
Year Built: 1990
Average MH Lot Rent: $300
Size: 20 acre(s)

Financial Information (Actual)

Gross Income $140,334
Net Operating Income $81,900
Debt Info

Lot Information

Singlewide Lots: 25
Doublewide Lots: 1

Utility Information

Water: City
Water Paid By: Tenant - RUBs
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 21
Average Rent for Park-owned Homes: $603

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