1202 Us Highway 190
- Approximately $1,100,000 in assumable financing
- 2.50% fixed interest rate
- 6.36± acres
- 13 park-owned mobile homes plus 1 house
- 14 total rental units
- 12 occupied units and 2 vacant units
- Reported average monthly income of $12,200
- Potential gross income of $16,300
- $146,400 annualized income run rate
- Value-add potential through renovations and lease-up
- Public Phelps water and private septic
- Self-managed property
- Located along US Highway 190 in Huntsville
Property Description
Discover an income-producing manufactured housing community at 1202 US Hwy 190 in Huntsville, featuring approximately $1.1 million in assumable financing at a fixed 2.50% interest rate. Offered at $1,300,000, this 6.36-acre property includes 13 park-owned mobile homes and one additional house, with 12 units currently occupied and reported average monthly income of $12,200, with potential gross income of $16,300. The existing loan carries an estimated monthly payment of $5,646.96, offering a potential financing advantage compared to current market rates. The property also presents value-add potential through the renovation and lease-up of vacant homes and improvements to existing interiors. Loan assumption is subject to purchaser qualification, lender approval, and confirmation of the outstanding balance and terms. Buyer to independently verify all property, financial, and operating information.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,300,000 |
| No. of Units: | 21 |
| Year Built: | 1958 |
| Lot Size: | 6.36 Acres |
| Opportunity Zone: | No |
| Price per unit: | $61,905 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout