409 E 57th St - Manufactured Housing/Mobile Housing FOR SALE


Odessa, TX 79762 | 
$1,800,000 USD
213-446-5366
409 E 57th St, Odessa, TX for Sale
$1,800,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/1
null | 5.26% Cap Rate

409 E 57th St
Odessa, TX 79762


HIGHLIGHTS

  • Price/Per Pad: $40,000
  • Cap Rate Pro Forma: $8.76%
  • Financing: Seller-Carry Available for a 5 year term
  • Approximately 7.9 acreages
  • Each home has its own septic tank, offering a one to one ratio
  • The park is supported by a private well

OVERVIEW

The Northgate Mobile Home Park is a 45-site community in Odessa, Texas, listed at $1,800,000 and strategically positioned in a market experiencing rapid economic and population growth. This property offers significant value-add potential through utility bill-backs, bringing lot rents up to market, repaving roads, and further upside from substantial infill opportunities. With these proforma adjustments, an investor can achieve nearly a 9% cap rate in the first year, while also benefiting from long-term appreciation in a city that is expanding by the day. To further enhance the appeal, the seller is open to a five-year seller-carry, providing flexible financing and a compelling entry point into a strong, growth-oriented market.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$577 USD /SF

# OF UNITS

45

PRICE/UNIT

$40,000

CAP RATE

5.26%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Northgate Mobile Home Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.92 AC

LAND SF

344,995 SF

ZONING

EC5

APN/PARCEL ID

325030001000000

ASK ABOUT THIS PROPERTY

Jennifer SteinJDS Real Estate Services, Inc.More Info
213-446-5366

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Jennifer SteinJDS Real Estate Services, Inc.More Info
213-446-5366

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