Odessa West Mobile Home Park — Sale in Odessa, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Odessa, TX 79763
  • Year built: 1983

Photos

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Investment Figures

Cap rate
11.35%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the exclusive offering of Odessa West MHP, a 40-space mobile home community located in Odessa, Texas. Odessa West MHP is being offered at a 11.35 percent capitalization rate with an estimated net operating income of $170,212. The community consists of 33 park-owned homes, 6 tenant-owned homes, and one vacant space. Of the 33 park-owned homes, two are currently used for storage and one is occupied by the owner as his personal residence. In addition, there is a vacant duplex situated on a separate private lot that is not included in the total space count. The duplex requires renovation and reconnection to utilities; however, the parcel includes three septic tanks that can be utilized to service the property, providing additional value and future income potential. Current lot rent is $500 per month, while the average rent for park-owned homes is $1,634 per month. The Park operates on city water and septic. Water is sub-metered and billed back to the tenants, and electricity is also billed back. Sewer and trash services are included in the rent. The current owners self-manage the property. Please do not visit the park without prior approval. Please arrange property tours with Marcus & Millichap listing agents. Investment Highlights: • Strong In-Place Cash Flow with 33 Park-Owned Homes and $1,634 Average Home Rent • Strong Value-Add Upside Through Duplex Renovations and Lease-Up of Park-Owned Homes • Utility Reimbursement Structure with Water and Electricity Billed Back to Tenants • The Park Operates on City water

Market Context

This multifamily in Odessa, TX is listed for sale. It is offered at an approximate 11.3% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1983. Compare it against other multifamily listings for sale in Odessa, TX — view the full market.

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