OFF MARKET – Mobile Home Park in San Benito, TX – Value Add For Sale

  • $570,000
  • 172,072 sqft

CURRENT DETAILS

Total Lots: 50
Total Occupancy: 39 (84% Occupancy)
Occupied TOH: 36
SF Homes: 3
Occ SF Homes: 2
Vacant Homes: 5
Vacant Lots: 6
Lot Rent: $350
Inclusion: ​940 E. Stenger St. which the owner had purchased to expand the MHP by 10 spaces or so. Outlined in ​red​ in the map.

2020 PERFORMANCE

Gross profit:​ $143,688
Expenses:​ $105,000Net
Profit:​ $37,688

BUSINESS PLAN

Actual M. Revenue………… $14,014
Expense Ratio………………. 71%
As-Is NOI………………………. $49,566
Purchase………………………. $570,000
Fees, Closing, & DD………. $69,250
New Basis…………………….. $639,250
As-Is CAP……………………… 7.8%

CAPEX………………………….. $233,750
Total Project Cost………….. $873,000
Stabilized NOI……………….. $109,631
Stabilized CAP………………. 12.6%
Annualized COC by refi…. 17.0%
Stabilized Value……………. $1,370,382

LEGAL DESCRIPTION

SAN BENITO- CLARA RESACA CITY RV PARK W BLK 2 W
SAN BENITO- CLARA BLK 2
SAN BENITO- CLARA BLK 1
SAN BENITO- CLARA BLK 2 **BLDG ONLY**
ABST 16- GEO F WALKER LOT 2, 0.8020 ACRES
SAN BENITO- CLARA BLK 1

QUALIFICATIONS: Minimum investment of 200k, looking to raise 875k. We can offer the same terms for multiple investors if necessary.

OFFERING MEMORANDUM (OM): Available per request

WHOLESALER DISCLAIMER

$10,000 EMD and POF due with accepted contractCash, Private, and Hard Money is accepted,Buyer must close quicklyProperty is sold “as-is”DO NOT contact sellers, property manager, or enter any trailer without permissionAgents – Buyer is responsible for agent commissionPlease perform your own due diligence as scope of work may varyBuyer is responsible for closing costs, title insurance, & transfer fees

SUBMIT OFFER

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

Price:
$570,000
Address:
924 E Stenger St
San Benito, TX 78586
Square Feet:
172,072
Lot Size:
172,072 Sq Ft
Terms:
For Sale
Property Type:
Commercial

Call 720-999-9590 for more details

Property Location