Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, Assumable Loan
- Cap Rate: 11.3%
- Listing ID: 18396
- Posted On: Dec 1, 2010
- Updated On: Dec 1, 2010
Description
Great Opportunity for expansion or upgrade! 5 Acre MHP, with 14 of 16 spaces occupied with Park Owned homes (13 single wide, 1 dbl wide). Tenants pay $405/ mo, owner pays for trash water, taxes and septic service. City Water at fixed monthly rate. Ideal for RV expansion or double wide additions. Very spacious and 1 mile from Lake LBJ. Older home need work or replacement. City Sewer system scheduled to come online in next few years. Marble Falls School District. Room for improvement: separate water meters, rents, roads, park owned homes and management.
Owner will carry financing with $35,000 down
$2100 Monthly payment at 7.5% with balloon in 3 years
Location
Granite Shoals is located approximately 5 miles west of Marble Falls, TX. The 5 acre park is located on a feeder road to the Lake LBJ boat slip. The park is located just outside the city limits, which is beneficial for additional development.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 16 |
| Total Occupancy: | 62.0 % |
| Year Built: | 1970 |
| Average MH Lot Rent: | $295 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $68,000 |
| Operating Expense: | $34,000 |
| Net Operating Income: | $34,000 |
| Expense Ratio: | 50.0 % |
Lot Information
| Doublewide Lots: | 16 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 14 |
| Average Rent for Park-owned Homes: | $405 |