Property Description:
Ash Creek Village Mobile Home Park is a 42 space mobile home/RV park. The park unit mix is comprised of 23 mobile home spaces and 19 RV spaces. All of the mobile home spaces are occupied. The RV spaces are typically rented by longer-term, monthly renters. Lot rent for mobile lots is $225 and RV Lot rent is $180. Ash Creek Village has a dependable, high-occupancy history. The property has about 648 feet of frontage along Hwy 281 and approximately 1 acre of the property at the front is not developed and will provide future commercial development upside.
This park is offered at a 10.18% Cap rate and provides an investor a 12% Cash on Cash return. Best of all, since there is only one park owned home, the maintenance and management issues of a typical multi-family property are minimized. An investor could also puchase this park and the Twin Creeks MHP in Kingsland which is less than 30 minutes away and benefit from combined management.
Location Description:
Ash Creek Village is located on 10 acres just north of the beautiful Texas Hill Country town of Burnet. The park is a short distance from schools, shopping and Lake LBJ. There is very little competition for mobile home and RV parks in the area. Burnet is the county seat of Burnet County making this attractive park well positioned for continued growth and demand.
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