13.9 Acres in Mexia, TX - $1,450,000
Blue collar cash cow. Mobile Home Park. 13.9 acre 79 lot mobile home park with city owned and maintained streets, and with it's being in the City, has city water and sewerage. In addition, every lot is individually metered for any utility service.
The park has grown by the previous owner's buying used mobile homes and rehabbing them and leasing them. This idea had grown to the current park's ownership of 45 homes. Seven lots are leased by individuals for their personal mobile homes. The park has really good cash flow and by a new owner using the same formula, the park could be full and the CAP rate would be in the mid teens.
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