Mobile Home Park Details
- Purchase Method: New Loan
- Cap Rate: 10.4%
- Listing ID: 16383
- Posted On: Sep 14, 2010
- Updated On: Nov 19, 2010
Description
Located on 20.16 ac with 408.1' of road frontage. 76 space park (60 park owned rentals, 11 lot rentals, 5 open spaces, plus 13 RV spaces). Includes 3/2 wood frame home, 1 steel storage building, 1 storage mobile, 2001 Dodge 1500 Quad Truck, 2005 Husqvarna riding mower, 1989 Ford 531 Tractor, 16' Tag along trailer, and miscellaneousother equipment. On city water & sewer (RUBS system in place) and electric separate metered. Property has on-site management/maintenance. There is approximately 10 acres of the 20.16 acres that can be developed for additional units. Annualized 2010 numbers
Location
From IH 30 take US 59 S toward TX-93 N/Lake Dr/FM Rd 3527 & continue on Frontage Rd/E Wallace Dr, right at Fci Rd/Leopard Dr, take the 3rd right onto Blankenship Ln, take the 2nd right onto Parkway Rd.
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 76 |
| Total Occupancy: | 85.0 % |
| Average MH Lot Rent: | $150 |
| Size: | 20 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $354,072 |
| Operating Expense: | $195,143 |
| Net Operating Income: | $130,561 |
| Expense Ratio: | 55.1 % |
| Debt Info: | Treat as Clear |
Lot Information
| Singlewide Lots: | 76 |
RV Information
| Number of RV Lots: | 13 |
| Average RV Lot Rent: | $250 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 60 |
| Average Rent for Park-owned Homes: | $430 |