Contact Information

Mobile Home Park Details

  • Price: $595,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 12.1%
  • Property ID: 921769
  • Posted on Apr 23, 2018

Property Description

Encino Estates Mobile Home and RV Community is a well-maintained 25-space property. The home inventory included in the sale is in first rate condition, with many recent capital improvements made by the current owners. Given its appeal to tenants and the 12.1% cap rate, this is a low cost / high value investment for a MH community. Adjacent excess ground is available for those who are interested in additional growth potential.

Location

Located in Hearne, Texas, which is centrally located between nearby larger cities of Houston, Austin and Dallas. Hearne benefits from several drivers of blue collar employment, with particular concentration in the following industries: rail, pipelines, and nearby oil/gas production. Union Pacific is under construction on a $550M project to build the new Brazos rail yard.

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Park Information

Community Type: All Age
Total Occupancy: 88.0 %

RV Information

Average RV Lot Rent: $350

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $350

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