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$850,000
Est. payment /mo
3.16 Acres Lot
UPDATED:
Key Details
Property Type Mobile Home
Sub Type Mobile Home Park
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2600000164
Lot Size 3.157 Acres
Property Sub-Type Mobile Home Park
Property Description
28-Lot Mobile Home Park Investment Opportunity | New IberiaStrong value-add mobile home park opportunity in New Iberia featuring 28 lots, solid in-place cash flow, and an estimated cap rate of approximately 10%.This asset offers immediate income with additional upside through expansion. Included in the sale is an additional parcel with the potential to support approximately 10-20 additional mobile homes, subject to subdivision and development plans. A house is also included in the sale and is being assigned no value.With most homes being tenant-owned, the park benefits from a lower-maintenance operating model while still including some park-owned homes for added income potential. Current lot rent is $280 per lot, creating a stable base with room for future optimization depending on market conditions.Investment Highlights28-lot mobile home park in New IberiaApproximate 10% cap rateStrong existing cash flowAdditional parcel included with expansion potential for 10-20 more lotsLarge vacant area for future developmentMost homes are tenant-ownedAdditional income from park-owned homesLot rent currently $280 per lotExisting management company willing to remain in placeSeller is a licensed real estate agentThis is an attractive opportunity for an investor seeking immediate yield, operational stability, and long-term upside through infill and expansion.
Location
State LA
County Iberia
Direction Directions: From 90 take exit 126 Take left on Jefferson island rd 2.9 take right St. Mary .4 miles take left on Walton
Interior
Heating Wall Furnace
Cooling Window Unit(s)
Appliance Electric Range
Exterior
Fence Partial
Building
Lot Description Additional Land Avai
Foundation Pillar/Post/Pier
Sewer Public Sewer
Schools
Elementary Schools Johnston-Hopkins
Middle Schools Anderson
High Schools Westgate
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Listed by Cachet Real Estate, LLC
NEARBY SCHOOL & BUSINESS
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