Listed by Century 21 The Edge
$975,000
Camp Rock Mobile Home Park, Apts and Building in El Paso, TX
Details
Property Type Mobile Home Park, Mixed Use
Units 33
Cap Rate 2.55%
NOI $24,829
Occupancy 60%
Tenancy Multi
Lease Options verbal agreements, month to month
Pro-Forma Cap Rate 11.01%
Pro-Forma NOI $107,307
Class D
Acreage 0.990
Zoning C-4 along Alameda, M-1 along Frutas
Investment Type Value Add
Ground Lease No
Mobile Home Park in Central El Paso, TX on SH20
Marketing description
Camp Rock Mobile Home Park is a mixed-use investment property located at 3815 Alameda in El Paso, TX. The property sits on 0.99 acres and consists of 22 mobile home pads, 10 apartment units (8 in strip at rear of property, 2 in rock building in center of property), and a building on the corner rented to a church. The property presents a significant value-add opportunity with 40% vacancy. Current NOI is $24,829 with a pro-forma NOI of $107,307 at full occupancy and increased rents to market rates, offering substantial upside potential for an investor willing to stabilize the asset.
Investment highlights
- 22 mobile home pads with current 40% vacancy
- Apartment strip with 8 units with 38% vacancy
- 825 sq ft Rock building in center of property that has been converted to 2 units that are vacant. Built in 1926
- Church tenant generating $1,100/month ($13,200 annually). Built in 1953
- Pro-forma NOI of $107,307 at stabilization
- Significant value-add opportunity with below-market occupancy
- Located on 0.99 acres in El Paso, TX
Listing Contacts
Listed by Century 21 The Edge
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$24,829.00
$2,069.08/mo
Valuation Metrics
0
DSCR
2.55%
Cap Rate
2.55%
ROI
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