Off Market – Odessa, TX Mobile Home Park – Value Add Available

  • $225,000

SUBMIT OFFER

Link to Pictures/Videos

Offer Deadline: 03/11/2021

CURRENT DETAILS

43 spaces available
7 Paying Rent (1 @ $1000, 6 @ $450)
4 Park Owned Homes (3 Vacant Needing Work)
6 Tenant Owned Homes with no lease
4 Wells (2 in working condition)
1 Septic System w/ Holding Tank (Grandfathered in)
Not Individually Metered
Vacant Swimming Pool
Owner Pays Electric $700 Winter // $1,600 Summer (BC of AC)
Current set up allows more for single wide or RV homes

VALUE ADD DETAILS

*** Could be turned into 85 lots (297 & Half of 299 Parcel, lots would need built) ***
*** Could remain 43 lots and add Storage or other Business to the 297 Parcel ***
*** County requires one septic system per 14 homes (when not city water/sewer) ***
*** Howell Engineering is in the process of developing a septic/well plan (will need this to add new homes) ***

PROPERTY MARKET DETAILS

Population: 115,930
Population Growth since 2010: +18.7%
Median Income: $56,119
Median Home Price: $173,400
Property is out of city limits but within the MSA
Nearest city water/sewer line 0.2 Miles on US Hwy 385
Police Department reports no known criminal activity in the park

ENGINEERING DUE DILIGENCE

We are in the process of communicating with Howell Engineering on a plan to proceed. This park was grandfathered in so as it sits well/septic regulations do not apply. However, once you modify the park, the county requires you to work with an engineer to develop a plan that is within current regulations. A few meetings have already taken place with Howell and they are now in the process of pricing things out. Here is the last email from Howell: “Due to the poor water quality in the area, we recommend you have the water tested from at least 2 water wells. This will help us determine the level of contaminants and if the water is treatable for public water consumption under the Rules and Regulations for Public Water Systems. Under this option (Option 2), we will need to submit TCEQ (Texas Commission on Environmental Quality) a design for a new water well with water samples on a monthly basis. Option 2 allows you to serve up to 100 water connections if approved. Process is 12-24 months. In the meantime, we will continue with Option 1, which is to re-plat parcels/lots 97-99 into two lots each. Each lot will then have the capacity of holding 14 MH spaces and each lot having it’s own water well(s) and own septic system(s). No water testing required (but highly recommended).”

Wholesaler Disclaimer:

$5,000 EMD and POF due with accepted contract
Cash, Private, Hard Money accepted, Buyer must close quickly
Property is sold “as-is”
DO NOT contact sellers or enter the house without permission
Agents – Buyer is responsible for agent commission
Please perform your own due diligence as scope of work may vary
Buyer is responsible for all closing costs, title insurance, & transfer fees

No wholesalers. No owner finance. Cash Only. End buyer only.

SUBMIT OFFER

Call, text or email to get access!
720-999-9590
sales@milehighpropertysolutions.com

Call 720-999-9590 for more details

Price:
$225,000
Address:
Odessa, TX 79762
Terms:
Assignment of Contract
Property Type:
Other

Additional Features

Do NOT try to approach the seller in any way before, during, or after showing. Anyone who does will be permanently removed from our buyers list AND black-listed with all other major wholesalers in the area. Further, such contact will be viewed as intentional interference with a contract and may result in legal action being brought against you. We are under contract with the seller of this property, and are therefore a PRINCIPAL in the transaction. We do NOT have a listing agreement with the seller and this is NOT a 'pocket listing.' Buyers are encouraged to perform their own due diligence regarding properties advertised by Mile High Property Solutions LLC. Information provided by Mile High Property Solutions LLC about advertised properties is taken from public records and other sources, is provided in good faith, but is not guaranteed to be accurate. After renovated value ("ARV"), estimated repair costs, and other such figures are simply estimates; as such, buyers should conduct their own analysis and diligence regarding all aspects of the property prior to purchasing.

Call 720-999-9590 for more details