Well | Septic | 4 acres
2 acres undeveloped!
All tenant-owned mobile homes.
The park was built less than 20 years ago!
Investment Overview:
Purchased for $380k in Jan 2023.
Balance financed for 24mo at 5% int.
Had 13 tenants at $450
($5.8k gross)
Now 15 tenants at $600
($9k gross)
$535K project cost including capex.
$1.1MM targeted value by Jan 2025.
($152k gross & $99k NOI at 9% cap)
Paved road & newer homes.
Carports and paved driveways.
Market Overview
Population…… 112,000
( +18.7% since 2020 )
Median Home…. $194k
Median Rent…. $1,560
Odessa, Texas is a vibrant city located in the Permian Basin of West Texas. It's known for its lively Cowboys-in-space aesthetic and array of recreational activities like the Music City Mall, Golden Acres Park, and Stonehenge Golf Course. With plenty of cultural and educational opportunities such as the Ellen Noel Art Museum, and Ector County Coliseum, Odessa is a great destination for those looking to experience the best that West Texas has to offer. From rodeos to concerts, it is a fun-filled community that celebrates culture year-round.