Wholesale Fix And Flip

Incredible Fix & Flip Mobile Home Park with $500k+ in ARV Profit

14532 N Pecan Ave, Gardendale, TX 79758

$1,500,000 After Repair Value -
$512,000 Asking Price -
$250,000 Cost of Repairs =
$738,000 Potential Profit

Property Details

Asking Price $512,000

After Repair Value $1,500,000

Costs of Repairs $250,000

Potential Profit $738,000

Living Area 287,496 ft2

Property Type Commercial Property

Bedrooms +7

Bathrooms +7

Half Bathrooms +7

Parking 1

Listed with Agent Yes

EPI (Estimated Potential Income)

Potential Rental Income $219,000

Yearly Expenses $64,978

Property Taxes $16,686

Net Operating Income $110,441

Cap Rate N/A

Property Description

Here\'s an amazing opportunity for serious upside and value-add potential for a 30 space mobile home park in west Texas. You have an opportunity to grab a property at a third of it\'s ARV value with the majority of cap x coming from 3 park-owned homes that need to be replaced and some light cosmetics on the other homes. Even with all repairs and refresh, a tremendous profit of $500k+ and a cash flowing asset can be realized in a matter of months. Currently breaking even due to mismanagement of expenses, it\'s an opportunity for an experienced investor to create a quick turnaround to return it to a strong cash flow which was seen in 2019 ($75k+). 65% currently occupied with an on-site manager that can be substituted for an off-site management company to increase income. Don\'t miss this significant opportunity to add multiple 6-figures to your bottom line and have a cash flowing asset.

Repairs Needed

There is no water or sewer issues on the property. They had it all fixed new due to the freeze that happened in February. They did disclose that there are 3 park owned homes that are very worn and torn and should be ripped out due to value being too low to fix up and sell etc. The only other updating will need to be roads (if you want) landscaping and general upkeep for the tenants.

CONTACT LISTING OWNER

Dalton Gareth

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