Contact Information

Mobile Home Park Details

  • Price: $1,750,000
  • Purchase Method: Cash
  • Cap Rate: 10.2%
  • Property ID: 1431752
  • Posted On: Apr 30, 2021
  • Updated On: Apr 30, 2021

Property Description

Sixty space mobile home park located on the west side of the growing Lubbock, TX MSA near Reese Center. The site includes an additional acre for expansion.

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Park Information

Community Type: All Age
Number of MH Lots: 60
Total Occupancy: 55.0 %
Average MH Lot Rent: $225
Size: 8 acre(s)

Financial Information (Pro Forma)

Gross Income $281,325
Operating Expense $102,616
Net Operating Income $178,709
Expense Ratio 36.5 %
Debt Info Cash to Seller Only. No Seller Carry.

RV Information

Number of RV Lots: 0

Utility Information

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

Park-Owned Homes

Number of Park-owned Homes: 33

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