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Buy&Hold (Mobile Home Park): (279 Units) Odessa, Lubbock, Plainview, TX + $8,000,000

Updated: Apr 22




Price

$8,000,000


💼 OFF-MARKET MOBILE HOME PARK PORTFOLIO –

WEST TEXAS VALUE-ADD OPPORTUNITY


📍 Odessa, Lubbock, and Plainview, Texas🏘️ 5 Parks | 279 Total Units💰 Final Portfolio


Price: $8,000,000 (Fees Included)


Submit All Offers To:📧 investments@promiselandrealtyllc.com


Promiseland Realty proudly presents this exclusive off-market offering—an income-generating portfolio of five mobile home parks located across the high-demand markets of West Texas. With a total of 279 units, this workforce housing portfolio provides a strategic value-add opportunity through infill, lease-ups, rent increases, and operational streamlining.


📊 PORTFOLIO HIGHLIGHTS

  • Total Units: 279

  • Occupied Units (as of April 2025): ~86%

  • Gross Scheduled Rent (GSR): ~$39,600/month | ~$475K+ annually

  • Actual Collected Rent (Last Roll): ~$29,700/month | ~$356K annually

  • Vacancy Upside: Strong potential to add ~$120K+ annual revenue through lease-up

  • Tenant Profile: Primarily long-term tenants, with a mix of lot rentals, park-owned homes, and rent-to-own scenarios

  • Asset Class: C-Class Workforce Housing


🗺️ PROPERTY LOCATIONS & DETAILS

  • Odessa, TX | 7 Units – $309,500

  • Lubbock, TX | 46 Units – $2,166,500 (114th Street MHP – ~91% occupied)

  • Lubbock, TX | 70 Units – $1,857,000 (Infinity Park – ~77% occupied)

  • Plainview, TX | 56 Units – $1,857,000 (Oakwood Acres – ~95% occupied)

  • Plainview, TX | 100 Units – $2,166,500 (The Ranch – ~75% occupied)

📈 INVESTMENT UPSIDE

  • Lease-up of existing vacant units and lots

  • Rent increases across below-market units

  • Potential to convert rent-to-own units to fee-simple

  • Streamline management and operational costs


This is a rare chance to acquire a cash-flowing, geographically concentrated portfolio in growth-focused Texas metros. Whether you are a seasoned MHP operator or fund looking to expand into affordable housing, this package offers immediate income with strong upside.


TEAM PROMISELAND DISCLAIMER:

No party is permitted to market this deal or any associated property details without written authorization or TEAM PROMISELAND membership. Unauthorized use or distribution will result in a $500 fine.



"Your #1 Source for Off Market Investment Properties, NATIONWIDE"



PROMISE LAND REALTY LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.

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