Listed by Keller Williams Realty
$386,000
14-SPACE MOBILE HOME PARK
Details
APN R68366
Property Type Mobile Home Park
Sub Type Mobile Home Park
Units 14
Occupancy 92.9%
Tenancy Multi
Pro-Forma Cap Rate 9.30%
Pro-Forma NOI $35,958
Class D
Acreage 1.930
Investment Type Value Add
Mobile Home Park
Marketing description
A stabilized 14-space mobile home park on ±1.93 acres in southeast Lubbock, with 13 of 14 lots occupied (92.9%) and a history of low turnover.
Tenants own their homes and pay their own utilities, leaving the owner with a light, predictable expense load of essentially just taxes and insurance.
Below-market lot rents and one open pad create clear, low-cost upside for a new owner to grow income from day one.
Investment highlights
- A stabilized 14-space mobile home park on ±1.93 acres in southeast Lubbock, with 13 of 14 lots occupied (92.9%) and a history of low turnover.
- Tenants own their homes and pay their own utilities, leaving the owner with a light, predictable expense load of essentially just taxes and insurance.
- Below-market lot rents and one open pad create clear, low-cost upside for a new owner to grow income from day one.
- $45,984 in-place scheduled rent; ~9.3% pro forma cap at list price.
- 13 of 14 lots leased; appraiser notes the park runs 90-100% occupied.
- Tenants pay their own electric; minimal owner-paid operating costs.
- Lease the open pad and raise sub-market rents toward $300+ market.
Listing Contacts
Listed by Keller Williams Realty
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