This Multifamily Property is Off-Market.

16109 NW Zac Lentz Parkway
Victoria, TX 77905 ·

21 Spaces · Multifamily For Sale

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Multifamily Property For Sale

Price N/A Property Use Type Investment
No. Spaces 21 Cap Rate 14.40%
Property Type Multifamily Occupancy 100%
Property Sub-type Mobile Home/RV Community Lot Size 3.79 AC
Listing ID: 17583009 Date Created: 03/21/2012 Last Updated: 06/04/2012

Description

Well planned and professionally constructed 21 space RV park. This park filled-up in a matter of days after opening and has remained 100% occupied since. Constructed to be very low maintenance and long lasting. Utilities and roads are in place for an easy expansion of an additional 15 spaces which would bring total to 35 spaces + 1 manager space, for a potential net monthy income of appx. $15,000 not including laundromat income. Currently nets appx. $9,000 monthly. I will add the 14 spaces for an additional $100,000 including materials and labor. There is already a plan drawn-up and room for a total of 65 spaces. Rents are currenty set at $450 monthly + electricity, and all sites have individual electric meters (we bill tenants for electricity usage). Wi-fi is installed and provided free to tenants. Laundromat and office building on site also. The park is completely out of all flood plains and has excellent drainage.

Prime location (locally and nationally). Situated on 3.79 acres with US Hwy 77 (Loop 463) frontage, just outside city limits (reducing taxes and utilities) in booming Victoria, Texas. The area is currenty experiencing tremendous economic growth with the Eagle Ford Shale development, and the Caterpiller manufacturing plant under construction. This is in addition to the already healthy economy this area has always had. Victoria is perfectly situated between Corpus, Houston, and San Antonio making it a hub of economic activity. The mild climate here has always made it a favorite destination of the Snowbird (Winter Texan) crowd as well. There is public access to the Guadalupe river appx. 1/2 mile away.

Research

16109 NW Zac Lentz Parkway, Victoria, TX 77905 (Victoria County)

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