143 Key Largo Ln - Manufactured Housing/Mobile Housing FOR SALE


Lufkin, TX 75904
$1,300,000 USD
936-465-2596
143 Key Largo Ln, Lufkin, TX for Sale
$1,300,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/73
null | 9.5% Cap Rate

143 Key Largo Ln
Lufkin, TX 75904


HIGHLIGHTS

  • Peaceful community set in natural outdoor beauty. Grocery, retail, restaurants, and hospitals close by. Private parking and lawns. Water furnished.

OVERVIEW

Nestled in the Piney Woods of Texas, Key Largo is a well-tended peaceful, multi-family zoned community consisting of 14 rental units (including 10 mobile homes built between 2001 and 2020), three RV hook-ups, and 12,000 square feet of metal structure warehouse buildings with 11 metal overhead doors. The buildings currently house a car museum, fire station, and storage units. Two commercial aerobic systems, city water, and trash dumpster collection service are also provided. Landscaping features large, stately water fountains and statues along with 30 years' growth of exotic plants and trees. Hospitals, grocery stores, retail shops, and restaurants are easily accessible and within five miles. Out of city limits. Optimum potential for increasing rent roll to market level. Low turnover among renters, with some in residence for up to 20 years. Every property has at least one covered parking space. This property has had one owner, builder, developer, landscaper, and operator for the past 30 years. All necessary equipment to maintain property will transfer with property ownership. Owner will consider owner financing package with 30% down (5.6% interest) and balloon payment due in four years. 10% ROI. Average monthly utility costs: water is currently $400, dumpster collection is $180, and electricity is $160. (Disclaimer: Cars are not included in price. Some are available for individual sale.)

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$929 USD /SF

# OF UNITS

14

PRICE/UNIT

$92,857

CAP RATE

9.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5 AC

LAND SF

217,800 SF

ZONING

Commercial

APN/PARCEL ID

15236

ASK ABOUT THIS PROPERTY

Randy GreenRandy GreenMore Info
936-465-2596

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Randy GreenRandy GreenMore Info
936-465-2596

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.