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Mobile Home Park

Williams Mobile Home Park

Woodmont Dr, Lufkin, TX 75901

Listing Price: $3,200,000

Cap Rate
6.87%
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 6.87 percent capitalization rate with an estimated net operating income of $172,602. New buyer has an opportunity to double the size of the property to 101 spaces. Approximately 10 acres of expansion land that has permits, plans, and retention already in place. About 7 of those acres are included in the plans, and the remaining 3 acres 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 are in the Due Diligence Portal.

Investment Highlights

  • High Occupancy (90%)
  • Opportunity To Double the Size Of The Park To 101 Spaces
  • City Permits And Site Plans In Place For Expansion
  • Paved Roads With Rolled Curbs
  • Paved Off Street Parking

Exclusively Listed By

Financing By

Mobile Home Park

Williams Mobile Home Park

Listing Price: $3,200,000

Cap Rate
6.87%
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%)
  • Opportunity To Double the Size Of The Park To 101 Spaces
  • City Permits And Site Plans In Place For Expansion
  • Paved Roads With Rolled Curbs
  • Paved Off Street Parking

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 6.87 percent capitalization rate with an estimated net operating income of $172,602. New buyer has an opportunity to double the size of the property to 101 spaces. Approximately 10 acres of expansion land that has permits, plans, and retention already in place. About 7 of those acres are included in the plans, and the remaining 3 acres 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 are in the Due Diligence Portal.

Exclusively Listed By

Financing By

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