Investment Overview

Pelican Cove Mobile Home Park is a 20-site mobile home community located in Nacogdoches, Texas. The community consists of 20 park-owned homes and is situated on just over 2 acres. Each site is individually metered for electricity and residents pay for their own electricity directly to the provider and pay for their own cable and internet. The community operates on city water and sewer and is responsible for the water, sewer, and trash expense. Nacogdoches is a small city located southeast of Dallas, Texas. The city is home to many major employers including Stephen F. Austin State University, Pilgrim’s Pride Corporation, Nacogdoches Independent School District, and Nacogdoches County Hospital District. The university is less than ten minutes from the community which creates a need for both short and long-term housing in the area for both students at the university and residents. Nacogdoches offers many local attractions including East Texas Oil Museum, Ellen Trout Zoo, the Texas State Railroad, and access to Lake Nacogdoches for fishing, boating, and other water sports. The community is located less than 10 minutes from major highways US Highway 59 and 21 and is less than 15 minutes from the Walmart Supercenter and the local middle school. This community boasts 100% occupancy. Pelican Cove Mobile Home Park is being offered at a day one capitalization rate of 10.07 percent and a pro forma capitalization rate of 10.44 percent.