Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.1%
  • 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

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