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Mobile Home Park

Lake Forest Estates Mobile Home & RV Park

2881 TX-110, Tyler, TX 75704

Listing Price: $1,850,000

Cap Rate
8.12%
Number of Spaces
58
Lot Size
12.97 acres
Occupancy
83.0%
Price/Space
$31,897
Spaces/Acre
4.47
Year Built
1980

Investment Overview

Lake Forest Estates Mobile Home & RV Park is a 58-site community located in Tyler, Texas. The community consists of 52 mobile home spaces and 6 RV spaces. The asset currently consists of five Park Owned RV’s and 32 Park Owned Mobile Homes. Most of the tenants at Lake Forest Estates Mobile Home & RV Park are over the age of 55, providing a peaceful and quiet place to live. There are asphalt roads and many trees for privacy throughout the community. It also currently operates on city water and sewer and the park for all the utilities except for the electricity, which is paid by the tenants. The city of Tyler, Texas is located 90 miles from Dallas and consistently produces population growth increase year over year. The city offers a nice small time feel as well as many attractions to its residents and visitors, including the Tyler Rose Garden, Caldwell Zoo, the Tyler State Park and the Kiepersol Vineyards Winery and Distillery. The major employers in the area include the major hospitals UT Health East Texas and Christus Trinity Mother Frances, the Brookshire Grocery Company, Tyler Independent School District, and Suddenlink. These major companies employ thousands every year and create a need for long and short-term housing in the area. The community is located right off State Highway 110 and right next to Lake Park. The community is located 3 miles from Downtown Tyler and 5 miles from the UT Health Tyler Medical Center. Lake Forest Estates Mobile Home & RV Park is being offered at a day one capitalization rate of 8.12% and a pro forma capitalization rate of 9.80%.

Investment Highlights

  • Offered at an 8.12% Day One Cap Rate
  • City Water and Sewer
  • Majority 55 and Over Community
  • Asphalt Roads Throughout the Park
  • 37 Spaces are Currently Park Owned

Exclusively Listed By

Mobile Home Park

Lake Forest Estates Mobile Home & RV Park

Listing Price: $1,850,000

Cap Rate
8.12%
Number of Spaces
58
Lot Size
12.97 acres
Occupancy
83.0%
Price/Space
$31,897
Spaces/Acre
4.47
Year Built
1980

Investment Highlights

  • Offered at an 8.12% Day One Cap Rate
  • City Water and Sewer
  • Majority 55 and Over Community
  • Asphalt Roads Throughout the Park
  • 37 Spaces are Currently Park Owned

Investment Overview

Lake Forest Estates Mobile Home & RV Park is a 58-site community located in Tyler, Texas. The community consists of 52 mobile home spaces and 6 RV spaces. The asset currently consists of five Park Owned RV’s and 32 Park Owned Mobile Homes. Most of the tenants at Lake Forest Estates Mobile Home & RV Park are over the age of 55, providing a peaceful and quiet place to live. There are asphalt roads and many trees for privacy throughout the community. It also currently operates on city water and sewer and the park for all the utilities except for the electricity, which is paid by the tenants. The city of Tyler, Texas is located 90 miles from Dallas and consistently produces population growth increase year over year. The city offers a nice small time feel as well as many attractions to its residents and visitors, including the Tyler Rose Garden, Caldwell Zoo, the Tyler State Park and the Kiepersol Vineyards Winery and Distillery. The major employers in the area include the major hospitals UT Health East Texas and Christus Trinity Mother Frances, the Brookshire Grocery Company, Tyler Independent School District, and Suddenlink. These major companies employ thousands every year and create a need for long and short-term housing in the area. The community is located right off State Highway 110 and right next to Lake Park. The community is located 3 miles from Downtown Tyler and 5 miles from the UT Health Tyler Medical Center. Lake Forest Estates Mobile Home & RV Park is being offered at a day one capitalization rate of 8.12% and a pro forma capitalization rate of 9.80%.

Exclusively Listed By

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