Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.4%
- Listing ID: 1547478
- Posted On: Nov 8, 2021
- Updated On: Mar 30, 2022
Description
JTACR Real Estate Group is pleased to present Hilltop Mobile Home Community: a 40-site Mixed Use community located in Palestine, TX.
The community is advantageously positioned along Hwy 79/Oak Street, providing excellent accessibility to the entire region.
In addition, Hilltop Mobile Home Community is located within the City Limits of Palestine, with City hookups for both Water and Sewer.
Current ownership features below market rents, as well as the upside of selling off park owned homes, thereby presenting investors with the opportunity to acquire a well-maintained community with immediate rental upside.
Amenities
- Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Number of MH Lots: | 39 |
| Total Occupancy: | 97.0 % |
| Average MH Lot Rent: | $250 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $170,286 |
| Operating Expense: | $62,201 |
| Net Operating Income: | $108,085 |
| Expense Ratio: | 36.5 % |
Lot Information
| Singlewide Lots: | 39 |
RV Information
| Number of RV Lots: | 16 |
| Average RV Lot Rent: | $225 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 23 |
| Average Rent for Park-owned Homes: | $250 |
