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

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 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 are two vacant duplexes located on a separate private lot that are not included in the total space count. These units require renovation and connection to utilities; however, there are three septic tanks on the parcel that can be tied into the duplexes. 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. The building dates to 1983. It has been on the market for 101 days. Compare it against other multifamily listings for sale in Odessa, TX — view the full market.

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