Mobile Home Park Details

  • Price:
  • Property ID: 919717
  • Posted on Apr 16, 2018

Property Description

• Located in the beautiful Texas Rio Grande Valley, this offering includes Lemon Tree RV Inn and Mobile Gardens MH/RV Resort. Only a few minutes apart, these 55+ properties are offered together; however, the owner will look at offers separately.
• Rare opportunity to acquire two high quality assets
in a recovering market that can be purchased at
above market cap rates and an attractive basis
with very few park owned homes. There is an
opportunity to grow revenue at both parks by
bringing in homes to sell.
• These both must be purchased as loan assumptions. Both offer attractive longer term CMBS debt.
• Lemon Tree RV Inn is operated like a manufactured home community as it consists of mostly park model homes housing stable, longer term 55+
age residents.
• Utilities are public and the area has excellent demographics with a population of 531,285 within a 10-mile radius from the communities.
• Lemon Tree and Mobile Gardens offer its residents plenty of amenities and services including a heated swimming pool, shuffleboard courts, laundry facilities, lounge patio, air-conditioned clubhouse, recreation hall, bingo, and church services.

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