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- LoopNet Team
2300 E Business 83
Weslaco, TX 78596
Magic Valley RV/Mobile Home Park · Multifamily Property For Sale
·
16,098 SF
INVESTMENT HIGHLIGHTS
- Recent Capital Improvements
- All City Utilities, All Direct-Billed
- Only 7 Miles from Mexico Border Crossing
PROPERTY FACTS
| No. Units | 389 | Lot Size | 28.36 AC |
| Property Type | Multifamily | Building Size | 16,098 SF |
| Property Subtype | Manufactured Housing/Mobile Home | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1992 |
| Building Class | C | ||
| Zoning | CO | ||
| No. Units | 389 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 28.36 AC |
| Building Size | 16,098 SF |
| No. Stories | 1 |
| Year Built | 1992 |
| Zoning | CO |
AMENITIES
SITE AMENITIES
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Gated
- Furnished Units Available
- Media Center/Movie Theatre
- Pet Play Area
- Planned Social Activities
- Wi-Fi
- Lounge
- Maintenance on site
- Multi Use Room
ABOUT 2300 E BUSINESS 83 , WESLACO, TX 78596
OFFERED AT $5.590M - Previously Priced at $6.95M, the park now offers a 8.65% cap rate on owner's Fiscal 2018 Income (FYE March-2018). Returns assume expense adjustments to reflect standard operating expenses only. 389-SITE RV & MOBILE HOME PARK - Magic Valley Park is a 389-site 55+ RV and Mobile home park. The park is a gated community, and managers live on site. Numerous community & recreational facilities. Residents can choose from over twenty planned events including sports, music, card and board games, church and others. SEASONAL RENTALS - Much of the park is rented on a seasonal basis with up to six months of rent paid upfront. Off-season, the park averages just under half-occupied. MIX OF SITES AND RENT STRUCTURES - The park offers sites for Tenant-Owned Homes, Park-Owned Homes, Park-Owned RV's, Transient RV's and Big Rigs. An prospective buyer could leverage the park mix to suit their desired income profile. CAPITAL IMPROVEMENTS - Recent capital improvements include $50,000 upgrades to lobby restrooms and $20,000 for new heating and pump equipment for the pool. Asphalt roads were improved at an expense of $5,300. Additional items included pothole repair and road seal coat as well as repairs to gates and chain link fencing.
PROPERTY TAXES
| Parcel Number | M0505-00-000-0002-00 | Improvements Assessment | $2,512,019 |
| Land Assessment | $1,091,918 | Total Assessment | $3,603,937 |
PROPERTY TAXES
