Transmountain Village Mobile Home Community

TransMountain Village is a new mobile home community on the west side of El Paso. It was acquired on a Lease/Option when it was newly developed and not yet full of homes. Repossessed bank-owned homes are purchased, refurbished, and sold or leased to the occupants of this beautiful, modern park.

Snap Shot

Type: 108-lot Mobile Home Park Community

Location: El Paso, TX

Purchase Price: $1.5 Mil

Current Value: $3.5 Mil
 

Deal Details:

Transmountain Village is an 108-space manufactured home community. It came with 2.5 acres of commercial road frontage that will be sold separately. Based on the Income Valuation approach, this property is currently worth $3.5 Million dollars. It was purchased for $1.5 Million just a few years ago.

This was a transition property. When purchased it had less than 50% occupancy. Due to a steady stream of advertising, and placing new homes into the park, the management was able to create a positive cash flow property with 85% occupancy in less and 18 months.