Contact Information

Todd Fletcher


Mobile Home Park Details

  • Price: $575,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Property ID: 1192219
  • Posted On: Feb 19, 2020
  • Updated On: Jul 6, 2020

Property Description

• Mid-Town RV Park is a 22 site RV park that is on public utilities and also includes a 4 bedroom single-family home rented for $2,500 per month. Located on one of the main arteries through Eunice, NM, the park offers tenants the comforts of staying in a small town. Restaurants, gas stations, and a laundromat are all within walking distance of the community.

• Seller Financing available for qualified buyers.

• Offered at a double-digit cap rate on trailing 12 months net operating income, this park allows an investor to achieve high cash-on-cash returns from day one while providing significant upside. With average in-place rents that are $100-150 below the rest of the market, a new owner can easily generate up to $40,000 of additional annual income by increasing rents.

• Mid-Town RV Park has a large portion of long term renters which is unusual for this market of mostly transient oil and gas workers. 15 of the RV residents have been living at the park for longer than a year, and 5 of those have been living at the park for over 5 years. Additionally, the group renting the single family home has been there for a year and have expressed plans to the owner to stay for another 3 years.

• The community previously contained mobile homes so some RV site sizes are rather large. A new owner may be able to knock down existing fencing and reconfigure to create room for additional sites. Other value add possibilities include making all sites direct billed to tenant for electricity, or bringing in single-wide manufactured homes or man camp units.

• There is a 24’x14’ portable building located on site that is owned by one of the sellers. It will not be included in the sale but can be purchased separately. It is already plumbed and has a bathroom and laundry hookups. A new owner could potentially add a laundry/shower facility or turn it into a rentable unit.

• The U.S Energy Information Administration expects Permian Basin crude oil production to peak at over 5.5 million barrels per day in the early 2030’s. Around 80 percent of an individual shale well’s lifetime production occurs in the first two years and the sheer size of the Permian means that drilling must continue at an extremely high rate to increase overall output from where it currently stands at 4.1 million barrels per day.

• This high level of drilling will require growing support from numerous related industries such as refineries, pipelines, frack sand production, and water disposal. There are 10 pipeline construction projects underway that will allow an estimated 7-8 million bpd to flow from the Permian Basin to the Gulf of Mexico once completed in 2020. DCP Midstream Partners also recently completed a natural gas processing plant in Lea County with the ability to produce roughly 30,000 bpd of natural gas liquids.

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

Park Information

Community Type: All Age
Number of MH Lots: 22
Total Occupancy: 100.0 %
Size: 1 acre(s)

Utility Information

Water: City
Water Paid By: Park
Sewer: City

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