Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 13.7%
  • Listing ID: 1330337
  • Posted On: Sep 27, 2020
  • Updated On: Jun 7, 2021

Description

60 Space RV Park and 3 mobile homes at a 13.75% cap (actual), 19% cap (pro forma).
Lots rent for $500 and each mobile home at $1900 totaling a potential revenue of $35,700 monthly. Park owned laundromat available as well.
There was a massive oil reserve found 25 miles from the park: https://www.star-telegram.com/news/local/fort-worth/article245032150.html
Continuous growth for the next 5 years. Park is located within a mile of a major highway, I-10.
Tremendous infrastructure is taking place in the surrounding area of the Permian Basin. Seller financing available.

Amenities

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

Park Information

Community Type: All Age
Number of MH Lots: 60
Total Occupancy: 80.0 %
Average MH Lot Rent: $500
Size: 3 acre(s)

Financial Information (Actual)

Gross Income: $271,357
Operating Expense: $168,673
Net Operating Income: $102,684
Expense Ratio: 62.2 %

RV Information

Number of RV Lots: 60
Average RV Lot Rent: $500

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 3
Average Rent for Park-owned Homes: $1,900

Similar Mobile Home Parks for Sale