Investment Overview

Marcus & Millichap is pleased to present Kingmont Mobile Home Park, a 145-space mobile home community in Houston, Texas. The community is ideally situated near Sam Houston Race Park, major highways, key airports, nearby universities, and is less than five miles from Walmart. Kingmont Mobile Home Park features 79 fully amortized homes, 58 tenant owned homes, seven park owned homes, and one vacant lot. The 79 fully amortized home loans carry a 14.5% interest rate and are all scheduled to mature by 2033. The investment also includes 15.18 acres of expansion land located directly south of the community, providing ample room to add additional homesites and amenities. The current lot rent is set at $400, offering a significantly more affordable option compared to other mobile home communities in the area, where rents range from $630 to $750. This presents a value-add opportunity for the next owner to increase rents to market levels and enhance revenue potential. All tenants are on annual rental agreements. Historically, the community has consistently operated at full occupancy. The Park operates on a private water well system. Water usage is submetered for each tenant and billed back accordingly. Sewer and trash services are paid by the owner and rebilled to tenants; these charges are included as part of the monthly metered water billing. Electricity is billed directly to tenants by the utility provider. Please note: The on-site wastewater treatment plant and water well will require a full overhaul due to aging infrastructure. The Park currently has an established management team in place, with 10 employees on payroll supporting day-to-day operations. Please do not visit the park without prior approval. Please arrange property tours with the Marcus & Millichap listing agent.