Investment Overview

Marcus & Millichap is pleased to present Flying Crane Mobile Home Community, a 23-space mobile home park located in Palacios, Texas. The property is situated just 1.5 miles from Downtown Palacios and approximately two miles from the Port of Palacios. Flying Crane is being offered at an 9.22% capitalization rate with an estimated net operating income of $69,149. The property provides an attractive combination of in-place cash flow and future upside in a market with limited affordable housing inventory. The community is comprised of 23 total spaces, including 18 tenant-owned homes, 2 vacant park-owned homes, and 3 vacant lots. The park-owned homes can be sold or leased after renovations presenting a significant value-add opporunity. Current lot rents for tenant-owned homes are $400 per month. Based on market rents for park-owned homes ranging from $800 to $1,000 per month, the renovated park-owned homes could be leased for a minimum of $800 per month. Flying Crane Mobile Home Community operates on city water and sewer. Water, sewer, and electric are all directly billed to tenants, while trash is the only utility expense paid by the owner. Management is currently handled by the owner. Please do not visit the property without prior approval. All tours must be arranged through Marcus & Millichap Representatives.