Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Property ID: 1306074
  • Posted On: Aug 13, 2020
  • Updated On: Feb 9, 2021

Property Description

This INVESTMENT PROPERTY is on 2 acres of land approx 6 miles East of Huntsville, with 3 site built homes and 5 mobile homes. One of the homes is from the 1980's and the other two were built in 2017. Three mobile homes are from the 1980's and have been remodeled or refurbished inside and out. One unit needs interior updating. All of the rentals are 2 bedroom, 1 bathroom except for the two newest constructed which are 2 bedroom with 2 full bathrooms. 3 rentals are on local water district service and 5 are on a common well. 3 rentals are on an aerobic sanitary system and 5 are on septic tank. The building classes are A and C. Improvements consist of over 5900 sq. ft., not including covered outside entries and decks. Currently the Gross rental is: $66,720/yr. with expenses approx. $7100/yr. Newly asphalted road (JULY 2020).

Location

Huntsville, TX: Take Hwy. 190 East of Huntsville approx. 6 miles and turn right onto Kalyn Rd. go approx. 1/2 mile and property will be on the left. No sign in front.

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Park Information

Total Occupancy: 100.0 %
Size: 2 acre(s)

Financial Information (Actual)

Gross Income $66,720
Operating Expense $7,100
Net Operating Income $59,620
Expense Ratio 10.6 %
Debt Info

Utility Information

Water: Well
Water Paid By: Tenant - Individual Service
Sewer: Septic

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