Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 15.6%
- Listing ID: 18785
- Posted On: Dec 21, 2010
- Updated On: May 14, 2014
Description
GREAT OPPORTUNITY FOR AN INCOME-PRODUCING PROPERTY! YEARS OF POSITIVE CASH FLOW! 2.14 Acres with Commercial Frontage on Expressway 281, North Edinburg, Texas in the Rio Grande Valley.
Owner Financing for a qualified buyer is being offered with 1/2 purchase price in cash and the balance on a 10 year note. Green Haven has been meticulously maintained by the owners, who are retiring, and is in great condition!
The Property Includes the Following: 17 PARK OWNED RENTAL UNITS AND 9 SHADED, FULL HOOK-UP RV LOTS (All Currently Rented*), Rec Hall with Coin-op Laundry Facility and 11 Storage Units. *Unit 17 on Space 27 is the Park Office.
Most RENTAL UNITS are Double Roofed for Energy Efficiency and Three Units have Double-Paned Windows. Each Rental Unit has Covered Parking for a Minimum of One Car. Mature Southern Oaks Provide Shade and Beauty and Park Includes Orange, Tangerine and Grapefruit Trees with Ripened Fruit Complimentary to Park Tenants. For Additional Information on Green Haven, Please Visit the Park's Website, www.rentalrgv.com.
Location
In the Rio Grande Valley, North on Expressway 281 from McAllen, Texas......just North of Edinburg, Texas.
Google Maps is incorrect....the Park is less than 1 mile North of El Cibolo Road on the East Side of Highway 281.
Amenities
- Laundromat
- Storage
- Club House
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 17 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1986 |
| Average MH Lot Rent: | $412 |
| Size: | 2 acre(s) |
Financial Information (Actual)
| Gross Income: | $98 |
| Operating Expense: | $35 |
| Net Operating Income: | $56 |
| Expense Ratio: | 35.7 % |
| Debt Info: | None |
Lot Information
| Singlewide Lots: | 17 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 9 |
| Average RV Lot Rent: | $140 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 17 |
| Average Rent for Park-owned Homes: | $412 |