Evaluating Exit Strategies for a 4-Unit Turnkey Mobile Home STR Portfolio in Houston
I am looking for some feedback and strategic advice on the best way to exit or structure the sale of a small portfolio of single-wide mobile homes currently operating as short-term rentals.
Here is the current setup:
- Scale: 4 single-wide homes located within a private, 8-home gated park that I own.
- Revenue: Each home currently generates roughly $1,500/month in gross revenue.
- Operations: Completely hands-off, fully furnished, and managed by Zenera at an 18% fee.
My financial target is to generate a minimum of $150K cash.
If I sell the homes to be removed from the land, they are only worth about $25K to $30K each, which falls short of my goal and leaves empty pads in my park. To make this a high-yield asset for an investor, I am planning to sell them in-place and offer a incentive: 6 months of zero lot rent.
After the 6 months, the lot rent would settle at a reasonable $500/month (which includes water, Trash and sewage utilities). The sale would be contingent on a long-term lot lease to keep the homes in the park.
My questions for the community:
1. Does a $150K–$160K valuation for a 4-home turnkey package like this sound appropriately priced for the Houston cash-flow market?
2. Would investors prefer a straight cash portfolio purchase, or is a high-down-payment seller financing structure more attractive in today's environment?
Looking forward to your insights!