Tanglewood Mobile Home Park is an all age mobile home community located in southeast Dallas near Seagoville. It has 27 mobile home sites with 17 park owned homes including the owner's current double-wide. Situated on three acres, it has a density of nine sites per acre with city utilities.
Priced at $13,703 per space, this is well below the average for Dallas parks. With current lot rents adjusted for utilities $100 less than the nearest competitor and 50 percent below surrounding parks, this is an excellent opportunity for an value add investor.
The new owner could reduce expenses by passing the utilities through to the tenants. By achieving below market average lot rents of $300 a month with 90 percent occupancy, a buyer could add over $200,000 in value on an exit CAP Rate of 10 percent, based solely on lot rents.