923 Hill RdHouston, TX 77037

Property Details for 923 Hill Rd

Year built

1960

Construction

WOOD FRAME

Lot size

4.00 AC

Property size (Sq ft)

1,036 SF

Property type

Mobile home & RV parks

APN

552290000009

APU

552290000009

Description

This fee-simple mobile home park in Houston, TX (Harris County, zip code 77037) presents a compelling investment opportunity. The property, situated on a 4-acre lot (APN: 055-229-000-0009), boasts 12 currently rented mobile homes generating approximately $18,000 in monthly income. Adding to the revenue stream are two standalone homes and a 4,000 square foot commercial building on a concrete slab, currently vacant but with a potential rental income of approximately $3,500 per month. The park features 14 total pads and was built in 1960. The property is zoned unrestricted, offering flexibility for future development. The asking price is $2,900,000, translating to approximately $207,143 per pad. This turnkey investment benefits from a strong rental market in Harris County and its convenient location just outside Houston city limits, offering easy access to major transportation routes and amenities. The property's multiple income streams and potential for expansion make it an attractive option for investors seeking stable returns and future growth. This is a rare opportunity to acquire a well-established mobile home park with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $280,069

  6.5%

  $258,525

  7%

  $240,059

• Comparable approach

  Method

  Valuation

  Relative Method

  $250,206

  Geo Method

  $480,760

• Alternative Use

  Use

  Valuation

  Residential

  $258,525

  Hospitality

  $236,808

  Educational

  $197,021

  Medical

  $203,797

  Retail

  $306,477

Location Insight

City

Houston

County

Harris

State

Texas

Latitude

29.8971

Longitude

-95.3788

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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