2604 County Road 7110 Lubbock, TX 79404

Property Details for 2604 County Road 7110

Property type

Mobile home & RV parks

Description

This exceptional Lubbock, Texas mobile home park presents a unique investment opportunity. Located at 2604 County Rd 7110, Lubbock, TX 79404, this property boasts 14 rental units housed within eleven buildings. The park currently features five one-bedroom units and nine units adaptable for two or three-bedroom rentals, offering significant flexibility. Priced at $89,500, this represents a remarkable value, falling below the assessed tax value and averaging less than $6,500 per unit. While one unit has been converted into a storage shed and is not currently included in the tax assessment, the potential for increased rental income is substantial. Post-renovation, the estimated monthly rental income exceeds $5,000. All units have been legally converted to real property, providing a solid foundation for future growth. A comprehensive renovation, estimated to cost between $100,000 and $300,000 depending on the investor's long-term or short-term strategy, could significantly increase the property's market value, potentially exceeding $500,000. This is a rare opportunity to acquire a well-positioned mobile home park with significant upside potential in a growing market. The property is situated in Lubbock County and offers a compelling return on investment for savvy buyers.