Home » Businesses For Sale » Residential Properties » Texas » Listing BFS-179250

Mobile Home Park - Actual Numbers

49-spaces with 22 park-owned homes in Victoria, Texas. On-site personnel willing to remain and recommended by absentee owner. Selling to purchase a larger park. Occupancy is 100%, there is no deferred maintenance.

21 lease-option notes are included in the sale w/average interest rate of 13.82% and a balance of 256,433 (Jan 2009), paying 5,266/month.

Upside in passing water, sewer and trash fees to tenants (would increase income over 21,000 annually, park is already sub-metered). Additional upside thru annual lot-rent increases.

Monthly Gross - 18,329 (including notes)
Monthly Expenses - 2,220
Vacancies and Uncollectables - 0.55%

2007 NOI - 154,181
2008 NOI - 170,256
2009 NOI - 175,364
2010 NOI - 180,625 (projected)

MAI Appraised in Feb 2008 at 1,750,000
Offered at a 10% Cap on 2009 Actual.

We have a bank that loves this property and will finance a qualified buyer.

Option 1 - Cash Sale.
Option 2 - 25% down + bank-financing.
Option 3 - 20% down, 10% seller-carry + bank-financing.
Option 4 - Owner-Finance w/500k down @ 7.5%

I'm direct to the seller, there is no co-op fee.
E-Mail is first contact.