1537 Palestine, Palestine, Texas 75801

1,000 Sqft - 1537 Palestine, Palestine, Texas 75801

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Property Description

Passive income ready to go! 32 space RV park in the heart of the city limits of Palestine Texas. Occupancy is nearly full and ready to generate a passive income immediately. The park sits on 3.5 acres, has laundry facilities, free internet for guests, security cameras, and residents that live here full time as a cheaper alternative of living. There are 10 park owned RVs that rent around $800 per month. These rentals stay full all the time and essentially have a waiting list if there is ever a vacancy. This market has a huge need for rentals which makes this investment a perfect purchase. Lots spaces rent for $300-$350 each and the resident pays the electricity. Electricity is included in the park owned rentals typically up to 800 kwh. You can add to the business by adding more rentals, adding tiny homes, expanding, and adding lots, or just collect current revenue from the park. If you desire to add more lots and expand, this could be done easily since utilities are on city water and city sewer. The last 12 months the gross income is at $133,000 and NOI is 108,200, however the business is tracking toward numbers which will gross around $175,000 and net closer to $130,000. Priced at $1,200,000. Call for any other details or to view the property.

Basic Details
Property Type : Duplex
Listing Type : For Sale
Listing ID : 10154368
Price : $1,200,000
Square Footage : 1,000 Sqft
Year Built : 2010
Status : Active
Property Sub Type : For Sale
Features
Heating and Cooling : Other/see Remarks
Pets YN : Yes
Address Map
Street : Palestine
Street Number : 1537
Street Dir Prefix : E
Neighborhood
Elementary School : Palestine
Middle School : Palestine
High School : Palestine
MLS Addon
Listing Brokerage : WP & Company
List Office MLSID : 55
Address : 1537 E Palestine
Taxes : $5,600
Subdivision Name : Westwood Beach
List Price/Square Foot : $0
WATER : Community
LA1Agent First Name : Kelley
LA1Agent Last Name : Byrd
List Agent MLSID : 3331
Duplex For Sale
  • Listing ID : 10154368
  • Square Footage : 1,000 Sqft
  • Visits : 7 in 6 days
  • WP & Company
$1,200,000
Agent info
Contact Agent