Investment Overview

Marcus & Millichap is pleased to present the exclusive offering of Laurel & The Oaks Mobile Home Communities, a two-asset, 61-space manufactured housing portfolio located in La Marque, Texas. Situated less than one mile apart, the properties operate as a single, cohesive community, offering operational efficiencies and strong occupancy within a desirable Gulf Coast market. Laurel & The Oaks MHC is being offered at a 6.85 percent capitalization rate with an estimated net operating income of $267,080. The community features a total of 42 tenant owned homes, 17 mortgage notes secured by homes at the community, one brand new 3/2 Clayton TRU, and one site-built house. The current lot rent is $480 per month, while market rents in the area range from $500 to $650 per month. The site-built home is currently occupied and rented for $875 per month. The brand new 3/2 Clayton home is ready for occupancy, offering immediate upside potential for the new owner. Both communities operate on city water and sewer. At Laurel, all utilities including water, sewer, electricity, and trash are billed directly to the tenants. At The Oaks, electricity is billed directly to the tenants, while water, sewer, and trash are paid by the owner and then billed back to the tenants. Please do not visit the park without prior approval. Please arrange property tours with Marcus & Millichap listing agents.