Mobile Home Park

Lakeview Mobile Home Park

Listing Price: $1,600,000

Cap Rate
8.62%
Number of Spaces
60
Lot Size
18.30 acres
Occupancy
80.00%
Price/Space
$26,667
Spaces/Acre
3.28
Year Built
1990

Investment Overview

Lakeview Mobile Home Park is a 60-site mobile home park located on Farm to Market 439 in Belton, Texas. The park consists of 23 lot rents, 35 park owned homes, and 2 brick duplexes. Lakeview is a low-density park that sits on 18 acres of land which boasts many trees and is across the street from Belton Lake. Residents pay for their own electricity and park pays for water, sewer, and trash. Each site is individually metered for electricity and water. The asset operates on co-op water and all sites have their own septic systems. Belton is on the Interstate 35 corridor between Austin and Waco. According to Beltontexas.gov, “within a 150-mile radius of Belton is a market of more than 9.4 million people, including the Dallas/Fort Worth Metroplex, San Antonio, and much of Houston.” Belton has experienced a growth in population of almost 30% since 2010 and continues to grow annually. The city offers many local attractions which include the Bell County Museum, Leon River, many parks that have biking and hiking trails, Belton Lake and Stillhouse Hollow Lake for fishing, boating, scuba diving, and water sports. Some of the major employers in the area include Baylor Scott & White Health Systems, University of Mary Hardin-Baylor, Belton School District, and Quik ‘n Tasty (Quik Trip’s Food Distribution Facility & Warehouse). According to Bestplaces.net/economy, “future job growth over the next ten years is predicted to be 36.3%, which is higher than the US average of 33.5%.” Lakeview is being offered at a day one capitalization rate of 8.62 percent and a pro forma capitalization rate of 9.87 percent. This stabilized asset offers an investor a great opportunity to purchase a park in the Central Texas market which is expected to see continued growth in the future.

Investment Highlights

  • Located in Belton – Desirable Interstate 35 Corridor
  • Offered at Over an 8 Cap Rate Day One
  • Operates on Co-op Water and Individual Septic Systems
  • Manager Open to Staying at Property for Future Ownership

Exclusively Listed By

Mobile Home Park

Lakeview Mobile Home Park

Listing Price: $1,600,000

Cap Rate
8.62%
Number of Spaces
60
Lot Size
18.30 acres
Occupancy
80.00%
Price/Space
$26,667
Spaces/Acre
3.28
Year Built
1990

Investment Highlights

  • Located in Belton – Desirable Interstate 35 Corridor
  • Offered at Over an 8 Cap Rate Day One
  • Operates on Co-op Water and Individual Septic Systems
  • Manager Open to Staying at Property for Future Ownership

Investment Overview

Lakeview Mobile Home Park is a 60-site mobile home park located on Farm to Market 439 in Belton, Texas. The park consists of 23 lot rents, 35 park owned homes, and 2 brick duplexes. Lakeview is a low-density park that sits on 18 acres of land which boasts many trees and is across the street from Belton Lake. Residents pay for their own electricity and park pays for water, sewer, and trash. Each site is individually metered for electricity and water. The asset operates on co-op water and all sites have their own septic systems. Belton is on the Interstate 35 corridor between Austin and Waco. According to Beltontexas.gov, “within a 150-mile radius of Belton is a market of more than 9.4 million people, including the Dallas/Fort Worth Metroplex, San Antonio, and much of Houston.” Belton has experienced a growth in population of almost 30% since 2010 and continues to grow annually. The city offers many local attractions which include the Bell County Museum, Leon River, many parks that have biking and hiking trails, Belton Lake and Stillhouse Hollow Lake for fishing, boating, scuba diving, and water sports. Some of the major employers in the area include Baylor Scott & White Health Systems, University of Mary Hardin-Baylor, Belton School District, and Quik ‘n Tasty (Quik Trip’s Food Distribution Facility & Warehouse). According to Bestplaces.net/economy, “future job growth over the next ten years is predicted to be 36.3%, which is higher than the US average of 33.5%.” Lakeview is being offered at a day one capitalization rate of 8.62 percent and a pro forma capitalization rate of 9.87 percent. This stabilized asset offers an investor a great opportunity to purchase a park in the Central Texas market which is expected to see continued growth in the future.

Exclusively Listed By

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