Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.1% (Actual)
- Listing ID: 4188831
- Posted On: Dec 20, 2023
- Updated On: Feb 22, 2024
Description
JTACR Real Estate Group is pleased to present Windmill Mobile Home Community: a 23-site community located in Harlingen, TX. In addition to the 23 sites the property has a single family home on site as well, which is leased for $1,250 a month.
The community is positioned just east of Combes and north of Harlingen, just off of US-77 and New Combes Hwy.
The utilities both water and sewer are publicly provided. Current ownership features a stabilized asset with 100% tenant owned homes as well as the upside of filling the three currently vacant pad sites. This presents investors with the opportunity to acquire a well-maintained community with immediate rental upside.
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 23 |
| Total Occupancy: | 88.0 % |
| Average MH Lot Rent: | $400 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $105,482 |
| Operating Expense: | $37,124 |
| Net Operating Income: | $67,338 |
| Expense Ratio: | 35.2 % |
Lot Information
| Singlewide Lots: | 23 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - RUBs |
| Sewer: | City |
