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Mobile Home Park

Williams Mobile Home Park

Woodmont Dr, Lufkin, TX 75901

Listing Price: $3,200,000

Cap Rate
6.81%
Number of Spaces
52
Lot Size
16.44 acres
Occupancy
90.0%
Price/Space
$61,538
Spaces/Acre
3.16
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present Williams Mobile Home Park a 52-space mobile home park in Lufkin, TX. The Park is being offered at a 6.81 percent capitalization rate with an estimated net operating income of $116,526. New buyer has an opportunity to double the size of the property to 101 spaces. Approximately 10 acres of expansion land is valued at $800,000. About 7 of those acres are approved for expansion, and the remaining 3 is vacant land separated by a tree line. The park receives a portion of its income from section 8 housing (DETCOG). All sites are HUD approved. Currently, 27 tenants are receiving either partial or full assistance from DETCOG. There are currently 39 park owned homes, 8 homes owned by Bobby Williams, and 5 empty sites that are not being utilized. Site plans and park owned home evaluations will be will be given up request.

Investment Highlights

  • High Occupancy (90%)
  • Land and permits to double the size of park
  • Rolled curbs and paved off-street parking
  • Section 8 housing

Exclusively Listed By

Mobile Home Park

Williams Mobile Home Park

Listing Price: $3,200,000

Cap Rate
6.81%
Number of Spaces
52
Lot Size
16.44 acres
Occupancy
90.0%
Price/Space
$61,538
Spaces/Acre
3.16
Year Built
2008

Investment Highlights

  • High Occupancy (90%)
  • Land and permits to double the size of park
  • Rolled curbs and paved off-street parking
  • Section 8 housing

Investment Overview

Marcus & Millichap is pleased to present Williams Mobile Home Park a 52-space mobile home park in Lufkin, TX. The Park is being offered at a 6.81 percent capitalization rate with an estimated net operating income of $116,526. New buyer has an opportunity to double the size of the property to 101 spaces. Approximately 10 acres of expansion land is valued at $800,000. About 7 of those acres are approved for expansion, and the remaining 3 is vacant land separated by a tree line. The park receives a portion of its income from section 8 housing (DETCOG). All sites are HUD approved. Currently, 27 tenants are receiving either partial or full assistance from DETCOG. There are currently 39 park owned homes, 8 homes owned by Bobby Williams, and 5 empty sites that are not being utilized. Site plans and park owned home evaluations will be will be given up request.

Exclusively Listed By

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