258 Crk 4110 St, Mt Vernon, TX 75457
22 Unit Mobile Home Park | $750,000 ($34,091/Unit) | 12% Cap Rate | Mt Vernon, TX 75457
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $750,000
- Property Type
-
Multifamily
- Square Feet
- 87,120 SF
Listing Contacts
Ed Parrish
Verified Profile
- Property Info
Property Overview
The park was started in 2020 and began with just two spaces. It has rapidly grown over the next several years, and now has 21 full hook ups and a large (2,100 SF) 5 bed 3 bath home on the property. The home is currently occupied by the owners, but could be rented for additional revenue or used as a park office. There are a number of long term tenants (currently 14) and there are also a number of construction related tenants who are there for the solar facility nearby. There are no long term leases in place so a new owner would be free to raise rents if desired. The overnight traffic is regular but not significant. This could be increased with advertising, but the current owners do not do any at this point. The park averages 80-85% occupancy on a regular basis. There is also a small laundry facility on the property which brings in some additional revenue.
The Park is serviced by municipal water and electric, and there are septic systems for the sewer. There are several individually metered spaces for the electric, but the owners have not chosen to use them as yet. The owners provide the maintenance of the grounds and trash service is provided by a local company.
The Park can be bought including the house or divided. The division would include 17 sites, the laundry, and two campers that are park owned and rent for $650.00 and $750.00 per month. The house and 4 sites would be retained by the current owners. The owners are flexible if a buyer would prefer that option. This investment is perfect for investors looking for a solid return on investment in a growing market with upside potential.
The Park is serviced by municipal water and electric, and there are septic systems for the sewer. There are several individually metered spaces for the electric, but the owners have not chosen to use them as yet. The owners provide the maintenance of the grounds and trash service is provided by a local company.
The Park can be bought including the house or divided. The division would include 17 sites, the laundry, and two campers that are park owned and rent for $650.00 and $750.00 per month. The house and 4 sites would be retained by the current owners. The owners are flexible if a buyer would prefer that option. This investment is perfect for investors looking for a solid return on investment in a growing market with upside potential.
Property Details
- Year Built
- 2019
- Stories
- 1
- Property Subtype
- Manufactured Housing/Mobile Home
- Lot Size (sq. ft)
- 225,205 SF
- Units
- 22
Highlights
- Prime location near 2 major recreational lakes and convenient to I-30
- Quiet road with little traffic
- Many long term tenants
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