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The Landing at Hickory Ridge

The Landing at Hickory Ridge

The Landing at Hickory Ridge

Palestine, Texas

Kickstart Capital Partners, LLC is pleased to present Hickory Ridge Mobile Home Park, a unique opportunity to improve a 55 site tenant owned MBH community in the city of Palestine, Texas. The community sits on over 14 acres in an opportunity zone and is at the intersection of 5 major highways 287, 79, 155, 84, and 19.  The opportunity exists to create substantial value through park cleanup, attentive management, and the addition of park owned tiny homes/cabins or new mobile homes.  We plan to rebrand the property to “The landing at Hickory Ridge” a more upscale locale with additional amenities and potentially allow RV stays as well to take full advantage of the property size and the many Texas shade trees.

PROPERTY FACTS

Price                $345,000       

Price / Site          $6,272       

Type               Value Add

Cap Ex Budget   $250k       

ARV               $1,423,000

Projected Investor Return   7% Pref / 5% Equity / 18.7% Average CoC

 

Number of Acres         14.2

Number of Units          55

Total Occupied             22

Purchase Date   02/23

 

Document List For Investors

Sample only – links don’t work

TAXES & OPERATING EXPENSES (PRO FORMA – Yr 3)     ANNUAL

Gross Rental Income                            $228,000

Other Income                                         $34,300

Vacancy Loss                                          $68,400

Effective Gross Income                        $203,900

Taxes                                                        $4,931

Operating Expenses                              $85,334

Total Expenses                                       $90,265

Net Operating Income                          $113,635

Cypress Park

Cypress Park

Cypress Park Apartments

Stow, Ohio

Located in Stow, Oh the property is surrounded by woods giving it a serene park like setting. Great location! Walking distance to Work and everything you need. Coming soon – Pavilions located right outside your door with Multiple grill stations, Spring – 2023. This property is conveniently located within walking distance of supermarkets, Panera Bread, Swenson’s, Kohl’s department store, Target, Drug Mart, Chase Bank and Summa Health Stow-Kent Medical Center

PROPERTY FACTS

Price             $4,000,000       

Price / SF      $116.55 / SF       

Type               Value Add

Cap Ex Budget   $295k       

ARV               $6,400,000

Projected Investor Return   8% Pref / 2% Equity / 11.5% CoC++

 

Number of Buildings    2

Number of Units          66

Total Building Size        34,320 SF

Purchase Date   07/23

 

Document List For Investors

Sample only – links don’t work

TAXES & OPERATING EXPENSES (PRO FORMA – Yr 5)     ANNUAL

Gross Rental Income                            $709,071

Other Income                                         $98,065

Vacancy Loss                                          $28,363

Effective Gross Income                        $778,773

Taxes                                                        $101,466

Operating Expenses                              $277,503

Total Expenses                                       $378,969

Net Operating Income                          $499,804