Enchanted Lakes of Edna Rv Park
For sale167 Private Rd 3190, Edna, TX 77957
Property type
Mobile Home Park
Unit / Space count
76
Price
Subject to Offer
Year built
2019
Lot size
18.86 acres
Property description
Enchanted Lakes of Edna RV Park is a 76-site RV community on 18.86 acres in Edna, Texas. Occupancy has increased from 7% to 88%, materially expanding the property's rental income base. Updated annualized underwriting reflects $362,424 in effective gross income and $244,158 in modeled NOI after management and reserves. Developed in 2019, the property offers full-hookup RV sites with concrete pads averaging 60 feet in length, spacious outdoor living areas, and parking for two vehicles per site. The community accommodates monthly, weekly, and nightly residents, with monthly rates of $450 including utilities. Infrastructure includes private well water, on-site septic systems, gravel roadways, wireless internet, and an on-site laundry facility. The park is currently self-managed with no full-time employees. Electricity is included in site rent and is not separately metered by space. Site-level metering or utility reimbursements may provide additional expense recovery, subject to installation costs, utility requirements, and applicable regulations. No incremental utility-recovery income is included in the updated underwriting. The property is positioned to serve traveling workers, contractors, and long-term residents seeking affordable extended-stay housing. Its 18.86-acre land position may also support future sites or complementary improvements, subject to planning approvals, utility capacity, and development feasibility. The offering includes the 76-site RV community only. The residential house reflected in ownership's rent roll is excluded, although ownership may consider a separate transaction.
Property highlights
- 88% CURRENT OCCUPANCYOccupancy has increased from 7% to 88%, materially expanding the rental income base and changing the property's investment profile.
- CURRENT RUN-RATE INCOMEUpdated annualized underwriting reflects $362,424 in effective gross income and $244,158 in modeled NOI, including a 10% management fee and $3,800 in operating reserves.
- 2019-BUILT, 76-SITE RV COMMUNITYThe community offers 76 full-hookup RV sites with spacious concrete pads, dedicated parking, private well water, on-site septic, laundry facilities, and wireless internet.
- POTENTIAL UTILITY-RECOVERY UPSIDEElectricity is included in site rent. Site-level metering or utility reimbursements may improve expense recovery, subject to cost and feasibility. No such upside is included in the model.
- 18.86-ACRE LAND POSITIONAdditional land may support future RV sites or complementary improvements, providing development optionality subject to approvals, utility capacity, and feasibility.
- REGIONAL WORKFORCE-HOUSING DEMANDMonthly rates of $450 including utilities position the park to serve traveling workers, contractors, and long-term residents seeking affordable extended-stay housing.