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Mobile Home Park

Hickory Ridge Mobile Home Park

29 Hickory Ridge, Palestine, TX 75803

Listing Price: $840,000

Number of Spaces
55
Lot Size
14.19 acres
Occupancy
40.0%
Price/Space
$15,273
Spaces/Acre
3.88
Year Built
2000

Investment Overview

Marcus & Millichap is pleased to present Hickory Ridge Mobile Home Park a 55-space mobile home park in Palestine, TX. Hickory Ridge Mobile Home Park is being offered at $15,273 a space. The park currently operates at 40 percent occupancy. The park consists of 22 occupied tenant owned homes, four abandoned homes, and 29 vacant lots. The park charges a monthly rate of $225 plus a $30 garbage service charge. The current rents are below market, as other parks in town charge between $275-$312 a month. Utilities at the park are Four Pines private water and an on-site treatment plant. The Park has two dumpsters that are onsite. The water is sub-metered and recaptured. Electricity is individually metered. The current manager is compensated $6,036 a year and lives offsite.

Investment Highlights

  • Value-Add Opportunity
  • Below Market Rents
  • Tenant Owned Homes
  • $15,273 Per Space

Exclusively Listed By

Financing By

Mobile Home Park

Hickory Ridge Mobile Home Park

Listing Price: $840,000

Number of Spaces
55
Lot Size
14.19 acres
Occupancy
40.0%
Price/Space
$15,273
Spaces/Acre
3.88
Year Built
2000

Investment Highlights

  • Value-Add Opportunity
  • Below Market Rents
  • Tenant Owned Homes
  • $15,273 Per Space

Investment Overview

Marcus & Millichap is pleased to present Hickory Ridge Mobile Home Park a 55-space mobile home park in Palestine, TX. Hickory Ridge Mobile Home Park is being offered at $15,273 a space. The park currently operates at 40 percent occupancy. The park consists of 22 occupied tenant owned homes, four abandoned homes, and 29 vacant lots. The park charges a monthly rate of $225 plus a $30 garbage service charge. The current rents are below market, as other parks in town charge between $275-$312 a month. Utilities at the park are Four Pines private water and an on-site treatment plant. The Park has two dumpsters that are onsite. The water is sub-metered and recaptured. Electricity is individually metered. The current manager is compensated $6,036 a year and lives offsite.

Exclusively Listed By

Financing By

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