EXCLUSIVE OFFERING MEMORANDUM
Mobile Home Park
2825
Great investment opportunity in Shallowater (Lubbock MSA) 46 Slot Mobile Home Park Tom McDonald 4105 84th St 806.776.2825
[email protected] 32 Homes Transfer with Sale Price Reduced! www.westmarkcommercial.com
Mobile Home Park 7322 CR 6100, Shallowater, Texas 79363
EXECUTIVE SUMMARY
OFFERING SUMMARY
Exclusive Engagement As exclusive agent to the owner, WestMark Commercial is pleased to offer the opportunity to purchase 7322 CR 6100, located in Shallowater, TX. The offer includes a chance to invest in northwest Lubbock.
Offer Highlights Great investment opportunity with immediate cash flow Individually metered electric and gas Licensed private water and sewer
PRICE
$575,000
LAND SIZE
8.00 acres
MOBILE HOME SPACES
46
MOBILE HOMES OWNED
38
POSSIBLE EXPANSION
100 SPACES
The mobile home park is located off Clovis Hwy along the north side of CR 6100 approximately one mile south of Shallowater. Paved Streets, renovated and updated homes.
Two tested water wells RO water systems installed in each home Located in Northwest Lubbock (Shallowater) Price reduced!
The statements and figures presented herein, while not guaranteed, are secured from sources deemed to be reliable. This information is subject to changes and withdrawal without notice. You are encouraged to perform due diligence. THIS PROPERTY IS OFFERED “AS IS, WHERE IS, WITH ALL FAULTS.” Broker is advising purchaser to conduct its own independent evaluation, valuation and assessment of the property.
WESTMARK PRIVATE CLIENT GROUP
7322 CR 6100 PROPERTY DESCRIPTION
Construction Land
Stablized Proforma Operating Data
8.00 acres
Mobile Home Lot Rent Mobile Homes Owned Rent
$175 -$250 $375 - $500
Current Monthly Rent
$9,061
Occupancy
29 spaces (66%)
Proforma Cap Rate
18 %
Actual Cap Rat
7%
Configuration
44Leasable Spaces Playground Storage (1 Space) Office (1 Space) Storm Shelter
Mobile Home Lots Mobile Homes Owned Potential Gross Income Vacancy
7x 38 x
$205 $375
$17,220 $171,000 $188,220
10%
$18,822
Effective Gross Income Property Taxes Insurance Utilities Repais & Supplies TCEQ & Well Maintenance Salaries Pest Trash Telephone & Advertising
Net Operating Income
Water
Two tested and approved water wells. RO water systems installed in 35 mobile homes.
Proforma Cap Rate
WESTMARK PRIVATE CLIENT GROUP
$170,000 $2,400 $6,000 $4,500 $7,200 $2,050 $40,200 $675 $3,840 $1,320 $68,185 $101,815 18%
WESTMARK COMMERCIAL| AERIAL & MAP