South Texas - Two Park Portfolio
Mcallen, TX
Asking price
$7,900,000
Sites
25
Cap rate
8.10%
Price / site
$316,000
About this property
Marcus & Millichap is pleased to present the exclusive offering of Baldwin Mobile Home Manor and Palm City Mobile Estates, a two-asset, 159-space manufactured housing portfolio located in the Rio Grande Valley. The two assets are positioned, respectively, in the Texas cities of McAllen and San Juan. Located less than four miles apart, the proximity between the two communities creates operational efficiencies and contributes to strong occupancy in this high-demand, border region market. Furthermore, both assets offer immediate access to key transportation routes, including Highways 2 and 281, and provide residents with excellent connectivity throughout the region. The locations likewise offer exceptional access to a wide variety of grocery, retail, dining, leisure, and employment options, meeting the needs of tenants and supporting long-term stability. The Rio Grande Valley - Two Park Portfolio is being offered at a 8.07 percent capitalization rate with an estimated net operating income of $637,167. The portfolio includes 122 tenant-owned homes, 25 RV spaces, 7 apartment units, 3 fixed structures, 7 storage units, 1 rent-to-own home, 1 warehouse, and 1 vacant mobile home space, for a total of 167 rentable units. The current lot rent at Baldwin Mobile Home Manor is $465. At Palm City Mobile Estates, lot rent is $415 for single-wide homes and $440 for double-wide homes. Both communities are served by city water and sewer systems, which are sub-metered and billed directly back to tenants. Trash service is also billed back, and electricity is billed directly to tenants by the utility provider. Operations are supported by an on-site manager at each property, along with a dedicated maintenance technician serving both locations. Please do not visit the park without prior approval. Please arrange property tours with Marcus & Millichap listing agents.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $7,900,000 |
|---|---|
| Sites | 25 |
| Price per site | $316,000 |
| Cap rate | 8.10% |
| Year built | 1990 |
| Address | 400 Datepalm Avenue |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
7 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Site count and hookup mix — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
