371 Mt Carmel Rd Lufkin, TX 75904-8680

This 18-unit mobile home park in Lufkin, Texas, presents a compelling investment opportunity. Located on a 3.33-acre lot (APN 78744) at 371 Mt Carmel Rd, Lufkin, TX 75904, this stabilized property boasts 100% occupancy and a strong 10.06% capitalization rate, generating a net operating income of $98,103. The park comprises 11 park-owned homes and 7 tenant-owned homes, with lot rents currently at $290 per month and park-owned home rents ranging from $875 to $1,250. Significant upside potential exists through rent increases, as comparable properties charge $475 for similar lots. Built in 1998, the park benefits from city water and sewer services, with most tenants directly billed for utilities. The property is conveniently located three miles from downtown Lufkin and three minutes from Pilgrim's Pride, Lufkin's largest employer. It also falls within the highly-rated Hudson ISD. While currently owner-managed, a long-term tenant has expressed interest in managing the property post-sale. The property is offered at $975,000. Prior approval is required for any site visits.