Great Opportunity to Buy and Hold!
2918 W County Rd 124, Midland, TX 79706
36 UNIT RV PARK IN MIDLAND TEXAS
PRICE: $624,000 Cap Rate: 11.00% Potential Rent: $16,812 Cap Rate (Pro Forma): 23.93%
Unit Mix:
36 RV Pads
Occupancy: 55% Occupied
Current Rents: $9,340/Unit
Market Rents: $16,812/Unit
Taxes: $1,008
Insurance: $3,134
Utilities: Owner pays all
Lot Size: 5.7 Acres
Additional: Space to potentially add 20-25 additional pads
Management: Currently self-managed, but an excellent local property management company ready to step in and manage this one for the next owner.
Cap Rate (Pro Forma): 23.93% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)
Due Diligence: While we do our best to get all the relevant information to you, buyers are encouraged to do their own due diligence. (See Important Disclosures Below)
TEXTING IS THE FASTEST WAY TO GET A HOLD OF US!
If you have any questions about this property please contact:
Primary Contact: Jack Keith (463) 240-1822
Important Disclosures: Five Stream Ventures, LLC. is not an appraiser or a general contractor and does not claim to be one. Buyer is to do their own independent due diligence. All properties are sold as is, where is with no warranties or representations expressed or implied. Five Stream Ventures, LLC. is a real estate investment firm and does not claim to be licensed real estate agents or brokers.