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Oakwood Glade MHP San Antonio, TX

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Mobile Home Park Details

  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 10.0% (Actual)
  • Listing ID: 68489
  • Posted On: Mar 25, 2011
  • Updated On: Mar 26, 2012

Description

Oakwood Glade is 33 MH units and 3 small MH/RV spaces.
Also includes SFR that rents for $650.
Currently 19 spaces rented at average $295
Currently 5 park owned homes rented for average additional $255
Tenants pay utilities.

Will sell on contract with 25% down.

Location

Good location south of San Antonio with HWY 16 frontage, good exposure and easy access to dollar store and mini mart. Nearby Toyota plan drives jobs and demand to area, plus many others.

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Park Information

Community Type: All Age
Number of MH Lots: 33
Total Occupancy: 55.0 %
Year Built: 1980
Average MH Lot Rent: $295
Size: 6 acre(s)

Financial Information (Actual)

Gross Income: $90,000
Operating Expense: $35,000
Net Operating Income: $55,000
Expense Ratio: 38.9 %

Lot Information

Singlewide Lots: 33

RV Information

Number of RV Lots: 3
Average RV Lot Rent: $295

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $255