Investment Overview

Marcus & Millichap is pleased to present Blue Agave Mobile Home Community, a 20-space mobile home park located in San Marcos, Texas. The property is conveniently situated off I-35 South, almost equal distance between Austin and San Antonio, with each city about a 45-minute drive away. Blue Agave Mobile Home Community is also within a 15-minute drive of Texas State University, a Walmart Supercenter, an H-E-B Grocery store, an Amazon Fulfillment Center, and the San Marcos Regional Airport. Blue Agave Mobile Home Community is offered at a 7.87 percent capitalization rate, with an estimated net operating income of $137,800. This estimate reflects income from lot rent only and does not include additional revenue from park-owned home rent, which generates an additional $37,080 annually. The park consist of 20 park-owned homes, all of which are currently occupied. Lot rent is $750 per month, while park-owned home rents range from $815-$1,210 per month. The new owner has the opportunity to raise the below-market rents, as nearby parks charge up to $1,600 per month for similar three-bedroom two-bathroom homes. The park operates on well water and a private septic system. Electricity and trash services are directly billed to tenants. The current owner self-manages the property and is willing to remain as the manager under new ownership. Please do not visit the park without prior approval. Please arrange property tours with Marcus & Millichap listing agents.