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Address is 5601 S. Lake Drive Texarkana, TX 75501

Cathy Anderson

Crye-Leike Commercial

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Cavalier Mobile Home Park

Multi Family Housing for Sale in Texarkana, Texas

5601 S. Lake Drive
Texarkana, TX 75501

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Sale Price: $1,100,000

Contact Information

Cathy Anderson
Crye-Leike Commercial

Mobile Home Park for Sale

Number of MH Lots: 48
Size: 8.5 acre(s)
Cap Rate: 8.4%
Purchase Method: Cash
Status: Active
Property ID: 899999
Posted on: Feb 21, 2018
Updated on: Jul 05, 2018
Price: $1,100,000

Property Description

50 pad mobile home park in busy Texarkana, TX for sale.

Highlights include: 50 pads: 12 tenant-owned homes 31 park-owned rent-to-own homes 2 RV spots 5 vacant lots

Great visibility along highway. Strong demand for rentals.

NOI: $92,207.04 Asking: $1,100,000

Park Information

Number of MH Lots:48
Total Occupancy:82.0%
Average MH Lot Rent: $260
Size:8.5 acre(s)

Financial Information (Actual)

Gross Income$167,902
Operating Expense$75,694
Net Operating Income$92,207
Expense Ratio 45.1%
Debt Info

RV Information

Number of RV Lots:2

Utility Information

Water Paid By: Tenant - Submetered

Park-Owned Homes

Number of Park-owned Homes:31
Average Rent for Park-owned Homes: $400