Mobile Home Park Details
- Cap Rate: 7.1%
- Listing ID: 6606607
- Posted On: Jul 12, 2024
- Updated On: Nov 18, 2024
Description
- Discover a lucrative investment opportunity with this multi-family property at 635 Yorktown Blvd #37, boasting 54 lots including the office, situated on a 7-acre park.
- This property offers a mix of manufactured homes and RVs, with 90% of tenants on long-term leases and 10% on short-term agreements. Water is included in the rent. The roads are chipseal roads.
- With the majority of homes being tenant-owned, the park is not responsible for maintenance, ensuring a hassle-free investment experience.
- This property has city water & 10 recently updated septic tanks, individually metered electricity with bill-back options, and an onsite laundry facility, making this property a standout choice for savvy investors looking to maximize ROI.
Location
- Located in Nueces County
Park Information
| Number of MH Lots: | 54 |
| Total Occupancy: | 63.1 % |
| Size: | 10 acre(s) |
Financial Information
| Gross Income: | $414,364 |
| Operating Expense: | $148,621 |
| Net Operating Income: | $156,789 |
| Expense Ratio: | 35.9 % |
Utility Information
| Water: | City |
| Sewer: | Septic |
