Mobile Home Park Details
- Purchase Method: Seller Financing, New Loan
- Cap Rate: 95.0% (Pro Forma)
- Listing ID: 419667
- Posted On: Dec 31, 2013
- Updated On: Apr 5, 2014
Description
Deep in the heart of the Rio Grande Valley, where the palm trees wave in the warm breeze, rests the Texan Mobile Park. This 20-acre mobile home and RV resort is ideally located next to the McAllen Convention Center and within walking distance to numerous shops and excellent restaurants. The park is adorned with gorgeous shade and fruit trees and well-manicured gardens. It features 165 spacious mobile home lots, 110 RV spaces with full hook ups, 16 newly re-modeled efficiency apartments, and a manager’s suite. Residents enjoy non-stop activities at the two club houses and swim in the heated pool. Additional amenities include three shower houses, two laundry facilities and a shuffleboard court. All sites are individually metered for water, gas and electric and invoiced accordingly, based on current rates. After 40 years of overseeing operations, the owner is ready to retire. The park’s gross income for 2012 was approximately $570K, and is estimated to be $615K for 2013. Visit the park’s website at www.texanmobilepark.com for additional information. Select the directions for a birds eye view of the park via Google Maps. To request additional information, please contact 956-451-9298.
Amenities
- Laundromat
- Pool
- Storage
- Club House
- Handicap Accessible
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 165 |
| Total Occupancy: | 95.0 % |
| Average MH Lot Rent: | $197 |
| Size: | 20 acre(s) |
Financial Information (Pro Forma)
| Gross Income: | $615,000 |
| Operating Expense: | $282,000 |
| Net Operating Income: | $333,000 |
| Expense Ratio: | 45.9 % |
Lot Information
| Singlewide Lots: | 165 |
RV Information
| Number of RV Lots: | 110 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Submetered |
| Sewer: | City |