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Mobile Home Park

Riverside Estates Mobile Home Park

6112 Leonard Rd, Bryan, TX 77807

Listing Price: $3,750,000

Cap Rate
7.74%
Number of Spaces
78
Lot Size
3.61 acres
Occupancy
95.0%
Price/Space
$48,077
Spaces/Acre
21.61
Year Built
1950

Investment Overview

Riverside Estates is a 78-site mobile home park located in Bryan, Texas between the major cities of Houston and Austin. The park consists of 36 mobile home lot rents, 17 single family homes, 8 park owned homes (3 of which will not convey in the sale and will pay lot rent for new owner), 8 duplex units, and 9 vacant lots. The asset sits on over 20 acres of land, has asphalt roads throughout and is heavily treed. The park operates on city water and a waste-water treatment plant for sewer. Operations and responsibility for the waste-water treatment plant will be conveyed to the new owner of the park. The residents are currently responsible for all utilities. Bryan offers many attractions including Texas A&M University, Aggieland Safari and George H.W. Bush Presidential Library and Museum. The major employers in the area include Axis Pipe and Tube, Fiji Film Diosynth Biotechnology Texas, iBio and Texas A&M University. These major companies along with Texas A&M employ thousands of residents per year proving there is a need for both short term and long-term housing. According to worldpopulationreview.com, the population of Bryan, Texas has increased by 14.73 percent since 2010. Bryan has also experienced an increase in job growth of 3.6 percent in the last year with a future job growth predicted to be over 40 percent over the next ten years according to bestplaces.net. In addition, the park is less than 3 minutes away from the fast-expanding Texas A&M Rellis Campus which unites the Texas A&M University System, Blinn College District, and public and private partners interested in research and new technologies. Riverside Estates is being offered at a day one capitalization rate of 7.74 precent and a pro forma capitalization rate of 8.16 percent. The park is less than 10 minutes away from the major highways of State Highway 47 and State Highway 21 West and is in the heart of Bryan’s Pharmaceutical corridor. A Walmart and the Jane Long Intermediate School are also located a few minutes away from the park. This is a special opportunity for an investor to acquire a stabilized park in a growth market.

Investment Highlights

  • Located in Bryan – High Barriers to Entry and Situated Between Houston and Austin
  • Park Operates on City Water and Residents Pay All Utilities
  • Offered at Over a 7 Cap Rate Day One
  • Opportunity to Increase Rents to Market
  • Less than 10 Minutes from Texas A&M University

Exclusively Listed By

Mobile Home Park

Riverside Estates Mobile Home Park

Listing Price: $3,750,000

Cap Rate
7.74%
Number of Spaces
78
Lot Size
3.61 acres
Occupancy
95.0%
Price/Space
$48,077
Spaces/Acre
21.61
Year Built
1950

Investment Highlights

  • Located in Bryan – High Barriers to Entry and Situated Between Houston and Austin
  • Park Operates on City Water and Residents Pay All Utilities
  • Offered at Over a 7 Cap Rate Day One
  • Opportunity to Increase Rents to Market
  • Less than 10 Minutes from Texas A&M University

Investment Overview

Riverside Estates is a 78-site mobile home park located in Bryan, Texas between the major cities of Houston and Austin. The park consists of 36 mobile home lot rents, 17 single family homes, 8 park owned homes (3 of which will not convey in the sale and will pay lot rent for new owner), 8 duplex units, and 9 vacant lots. The asset sits on over 20 acres of land, has asphalt roads throughout and is heavily treed. The park operates on city water and a waste-water treatment plant for sewer. Operations and responsibility for the waste-water treatment plant will be conveyed to the new owner of the park. The residents are currently responsible for all utilities. Bryan offers many attractions including Texas A&M University, Aggieland Safari and George H.W. Bush Presidential Library and Museum. The major employers in the area include Axis Pipe and Tube, Fiji Film Diosynth Biotechnology Texas, iBio and Texas A&M University. These major companies along with Texas A&M employ thousands of residents per year proving there is a need for both short term and long-term housing. According to worldpopulationreview.com, the population of Bryan, Texas has increased by 14.73 percent since 2010. Bryan has also experienced an increase in job growth of 3.6 percent in the last year with a future job growth predicted to be over 40 percent over the next ten years according to bestplaces.net. In addition, the park is less than 3 minutes away from the fast-expanding Texas A&M Rellis Campus which unites the Texas A&M University System, Blinn College District, and public and private partners interested in research and new technologies. Riverside Estates is being offered at a day one capitalization rate of 7.74 precent and a pro forma capitalization rate of 8.16 percent. The park is less than 10 minutes away from the major highways of State Highway 47 and State Highway 21 West and is in the heart of Bryan’s Pharmaceutical corridor. A Walmart and the Jane Long Intermediate School are also located a few minutes away from the park. This is a special opportunity for an investor to acquire a stabilized park in a growth market.

Exclusively Listed By

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