1520 E Sheppard Drive, Gladewater, TX 75647
sale
$750,000
|
Other
Courtesy Of Keebaugh & Company
Investment opportunity in Gladewater, Texas! Mobile Village Mobile Home Park is an established income-producing manufactured housing community situated on approximately 6.25 acres at 1520 E. Sheppard Dr. The property currently offers 33 rentable mobile home lots with approximately 91% occupancy, providing an existing rental income stream along with additional potential for expansion. Residents own their individual mobile homes and lease the lots from the park, allowing the property owner to generate lot rental income without ownership of the individual homes. Current lot rent is $300 per month, with an anticipated increase to $350 per month in 2027. Lots have full hookups. Tenants are responsible for electricity, wastewater and trash, while water usage is billed to tenants by the park owner. In addition to the existing 33 rentable lots, approximately one-half acre has been approved for 7 additional sites, creating an opportunity to expand the community to as many as 40 lots and potentially increase future rental income. The combination of strong existing occupancy, tenant-owned homes and approved room for additional sites makes this an opportunity for an investor looking for an established operation with growth potential. The approximately 6.25-acre property is conveniently located near Lake Gladewater and White Oak City Park, with access to Longview, Kilgore and Tyler. Seller may consider financing with 50% down, offering an additional acquisition option for qualified buyers. Sale includes the land and associated improvements owned by Seller. Mobile homes located within the park are privately owned by individual residents and are not included in the sale. Additional financial and property documentation is available to qualified buyers upon execution of a confidentiality agreement. PLEASE DO NOT DISTURB TENANTS. Drive-by only unless access has been arranged in advance through the listing agent. No sign is located on the property. Buyer to independently verify acreage, zoning, permitted use, utilities, occupancy, financial information, expansion approvals and all other information important to Buyer.
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Property Features
- Building Units: 33
- MLSID: 20266819
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