Contact Information

Mobile Home Park Details

  • Price: $6,125,000
  • Property ID: 1655977
  • Posted On: Apr 26, 2022
  • Updated On: Jul 19, 2022

Property Description

Sunstone Real Estate Advisors in conjunction with Mueller & Hoffman is pleased to offer for sale a two-property portfolio located in Killeen and Salado, Texas. The properties are all-age communities totaling 101 sites. The communities are serviced by public water and a percolator private sewer system. The assets are currently operating at 93% occupancy with average site rents at $378 per month. A $15 rent increase is going into effect on June 1, 2022. There are 24 park-owned homes of which 22 are RCP/rentals, 1 is vacant and 1 site built home that must be purchased in conjunction with the real estate. The communities are approximately a 10-minute drive from one another. Both properties are approximately 10 miles from Fort Hood, Lions Club Park, and Central Texas College.

Location

Park price per site of approx. $52,000
Value creation by converting the 22 RCP/rental homes
Opportunity to increase rents over time
Water & trash billed back
Strong market close to Fort Hood

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Park Information

Number of MH Lots: 101
Total Occupancy: 93.0 %
Year Built: 1980
Average MH Lot Rent: $378
Size: 26 acre(s)

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