Listing Broker: Ryan Ramseur
Contact Ryan Ramseur : +1-678-932-0200

SHREVEPORT, LA MSA (CADDO PARISH CO.) - This offering is inclusive of Blanchard Mobile Home Villa, Keithville Mobile Home Villa & RWP Sewer Company. These 2 parks are located just 25 minutes apart and reside on the north and south ends of Shreveport, LA. Shreveport is the 3rd largest city in Louisiana with a population of roughly 400,000. Shreveport is known for its service economy, in particular their gaming and manufacturing industries as well as being a major medical center of the region and state.

AT&T’s regional headquarters are in downtown Shreveport and Amazon has a fulfillment center expected to be completed in 2023 creating 1,000 jobs. In 2015 Fortune Magazine ranked Shreveport “The #1 place to start a business.”

Blanchard Mobile Home Villa consists of 54 lots on roughly ±8.78 acres and is zoned for Residential with Grandfathered Mobile Home Use. Of the 54 lots, 4 homes are occupying multiple pads, there are 14 POH’s, 14 vacant POH’s in need of repair or removal, 14 vacant lots and 8 tenant-owned homes (TOH). The park operates on RWP Sewer (private sewer company) and city water. The entirety of the park has 96 units which RWP Sewer Co. services at $35/mo for sewer and $50 for water and is regulated at that amount, however the additional 42 lots are not included in the sale as the tenants own their own lots. Lot rents are at $300/mo with potential of raising to market at $550/mo. Roads are paved and in good condition.

Keithville Mobile Home Villa consists of 91 lots on roughly ±13.49 acres and is zoned for commercial use. There is 1 home occupying 2 lots, and there are 8 TOH’s, 6 commercial suites and a parking lot, 1 vacant POH and 78 vacant lots. This park also operates on RWP Sewer (private sewer company) and well water. This park is unregulated for sewer charges and could be an excellent value add for incoming ownership looking for additional income streams. Lot rents are at $275/mo with market rates at $550/mo. All utilities are in place and ready for tenants. Roads are gravel/dirt and in need of Capex repairs. New ownership will need to be prepared to incur additional expenses.

RWP Sewer Co. will transfer to new ownership under the sale of these 2 parks. The system is rated for both parks and an additional 30 spaces adjacent to Blanchard Mobile Home Villa and neither is at capacity. RWP Sewer Co. currently generates $18,480 in additional income with potential of $90,000+ at full occupancy under current charges. There are 3 ponds on Blanchard MHV which run 16,000 gallons/day and 1 pond on Keithville used as sewer treatment plants/oxidation ponds. The pond on Keithville was not permitted and therefore ownership can only make repairs to sewer. Current ownership pays a Licensed Water & Sewer Operator and Maintenance Technician to take samples and operate everything in both parks and RWP Sewer Co. This licensed operator works full time for Bossier-Parish and is happy to continue under new ownership.

Estimated expenses for Keithville MHV from the on-site manager and licensed W/S operator are as follows: $40K for sewer repairs, $30K for water system (including individual meters), $30K for landscaping and road repairs. This offering represents a tremendous value-add for new ownership. Given the location of these assets, desire for management and operator to continue under new ownership, opportunity to infill vacant pads, increase rents to market, bill back for water/sewer at Keithville Mobile Home Villa and the additional income of RWP Sewer Co. make this a very intriguing investment for new ownership.