Investment Overview

Marcus & Millichap is pleased to present Castroville Road Mobile Home Park, a 22-space Mobile Home Community located in San Antonio, TX. The property sits just north of U.S. 90 near the heart of San Antonio and is conveniently located about one mile from the nearest H-E-B grocery store. Castroville Road Mobile Home Park is offered at a 9.36 percent capitalization rate with an estimated net operating income of $145,136. The community consists of 22 total spaces, all of which are occupied by park-owned homes. The property has historically maintained 100% occupancy, with the majority of tenants in place for over three years. Current rents range from $575-$950 per month, with an average rent of $740. Other parks in the area charge a range from $1000-$1400 for single wide park owned homes, which gives the new owner the opportunity to raise the rent to market rates. This community operates on city water and city sewer. Electric, Water, and trash expenses are all billed back to the tenants. The current owner self manages the property. The sellers are willing to owner-finance with a down payment of $465,000 (first position only), 5 percent interest rate, 25-year amortization, and a 5-year balloon. All offers should include proof of funds and/or a schedule of real estate owned. Please do not visit the property without prior approval. All tours must be arranged through Marcus & Millichap agents.