Contact Information

Property Description

PLEASE DO NOT DISTURB TENANTS.

PLEASE READ CAREFULLY BEFORE INQUIRING.

South Texas MH/RV/ Park with city water and sewer. All individually metered for electric (we read meters on last day of month and bill tenants). This is a rough around the edges C- Park with excellent cash flow. Needs TLC.

Aprox 2 acres with 2 bdrm/1full ba home with separate (attached) office(w/half bath) or retail area with patio and newer 3 car garage. Ample workshop/barn like area. Possible to convert both garage and barn to 3 studio apartments for additional income. Utilities close.

Absentee owner lives in Mexico. OWNER SELLING TO START CONDO PROJECT IN PLAYA DEL CARMEN AREA. No financing in Mexico, hence needs large cash down w/ 3-5 year owner financing possible on balance or full cash (slight discount).

On main highway and next door to 2 landmark Mexican restaurants ( Trevino’s and Colima) on either side just outside McAllen Texas, in Edinburg. Owner financing possible WITH MINIMUM 65-75% DOWN. Please Google area as one of the fastest growing in America. Also google earth to see areas for possible added spaces.

Excellent management may or may not stay on board. Manager does not live on premises.

Recently added new sign, new 6" drain lines and electrical updates from old to new digital meters that solved a major concern. Some road work and fill in of low areas also done in last 30 days. Some painting and fence work in progress as well.

Also possibility of ADDING 8-10+ MORE SPACES (TOTAL 50+) Perfect opportunity to pull in your own units and rent to own to new tenants for top value income. Plenty of parking.

Currently have aprox 35 spaces rented. Small casitas owned by tenants and recently scheduled to be moved out to clear to allow 2 spaces where now only one rental income. All tenants month to month. No leases and could affect bank financing as most banks require leases. Also not all units on concrete pads. No park owned units currently.

Monthly EXPENSES: Water/sewer/trash $1250 electric $100, Taxes $985 (but we are challenging as old system included casitas and units park did not own!) This should drastically reduce this expense. Management expense recently raised to $1400.
Liability insurance in place, aprox $1000 yearly.

Maintenance person lives in 2 bedroom house in trade for occasional tasks. This too can be a clear new income source ($550) or new owner occupied.

Also have small upstairs ( above old barn) apartment rented for $250 plus electric. This area could be demoed to add more spaces.

Occupied by local long term year round families. No winter Texans. All tenants pay by money order, no cash, cards, checks, accepted. If over 5 days late a $25 charge is added and 90% avoid by paying timely! Needs paint, some very minor road work, landscaping, minor carpentry. A diamond in the rough. Creative use could increase income substantially!

NOTE: If 50 spaces x $250=$12,500
Fixed expenses (see above) $1400 manager. 0 if owner runs.
$1250 water/trash/sewer. Taxes now $985 mo. Can be lowered.
DUE DILIGENCE WILL SHOW ALL NUMBERS SOLID. No one wants to waste anyone’s time here. All rents deposited in B of A account with 3-4 checks written monthly from same account.

If more information required contact seller, retired attorney.

If broker has preapproved buyer, owner may allow 3% commission for that buyer only. No exclusive listing requests please. Thank you.

Mobile Home Park Details

  • Price: $475,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Property ID: 901108
  • Posted on Nov 20, 2018
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Park Information

Community Type: All Age
Number of MH Lots: 40
Total Occupancy: 90.0 %
Year Built: 62
Average MH Lot Rent: $250
Size: 2.0 acre(s)

Financial Information (Actual)

Gross Income $9,000
Operating Expense $3,700
Net Operating Income $5,300
Expense Ratio 41.1 %
Debt Info

Lot Information

Singlewide Lots: 10
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 20

RV Information

Number of RV Lots: 10
Average RV Lot Rent: $250

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 0
Average Rent for Park-owned Homes: $0

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