South of Houston, TX - 9 Homes, 4 Mobile Homes on 5 acres

[Belinda Lopez]

17119 McLean, Pearland, TX 77584

Property Description: Five unrestricted acres containing several mobile homes and houses but could be used for any purpose; land use is unrestricted. City water and sewer. It already cash flows as a mixed home and mobile home park but could easily be subdivided and sold off in parcels for new homes or as commercial site. According to CAD records, there are 9 homes, 4 manufactured homes and 1 large Pole Barn (3100 sqft). Buyer will need to verify all information and home conditions. Owner reports that 6 homes are rented, 3 need full rehab, and the 4 mobile homes are rented. Owner has moved out of state and is managing remotely.

This one won't last long, lock it up today with a $3k earnest money and POF.

SALES PRICE: $389,000.00

ARV: $542k Repairs: ~$12k

Current Income/Expenses as reported by owner:

Income: ~ $3500/month in rents

Taxes: $5,490.73

Trash: $100/mth

NOI: $37,000