5520 Condor Rd Gilmer, TX 75645

Property Details for 5520 Condor Rd

Year built

1930

Lot size

4.89 lot acres

Property size

15,386 SF

Property type

Commercial real estate

APN

4335

APU

4335

Description

This exceptional 13-pad mobile home park in Gilmer, Texas, presents a compelling investment opportunity. Situated on a spacious 4.89-acre lot at 5520 Condor, this property boasts a strong 11% capitalization rate, generating a substantial net operating income (NOI) of $85,000 annually. The park features 12 mobile homes, all owned by the seller, and a 2-bedroom, 1-bathroom frame house, ensuring complete control and maximizing rental income. Built in 2020 and recently renovated (within the last 1-5 years), the property is in excellent condition and benefits from 100% occupancy. The total net rentable square footage is 10,600 square feet, spread across the 13 pads. The asking price is $775,000. All utilities (water, sewer, and trash) are provided by the seller, simplifying management and enhancing profitability. This stabilized investment offers a rare chance to acquire a high-performing mobile home park in a desirable Texas location with significant potential for future growth. The property's strong cash flow and high occupancy rate make it an ideal addition to any real estate portfolio. This turnkey operation requires minimal management oversight, making it an attractive option for both seasoned investors and those new to the mobile home park market. The property is offered for sale by owner.

Location Insight

City

Gilmer

County

Upshur

State

Texas

Longitude

-94.8485

Latitude

32.6392

CBSA code

30980

CBSA name

LONGVIEW, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments