Completed Projects

Sportsman Mobile Home Park

The Opportunity

Located on the northern outskirts of Lake Charles, LA approximately 2.5 miles from the intersection of US-171 and I-10, The Sportsman was a low-density, 9-acre mobile home park (MHP) in a rural setting. While previous park ownership enjoyed relatively strong occupancy and operating histories over its hold period, over-leveraging impacted cash flows and previous management was unable to effectively maintain the asset. 

The Response

Hartman Wright acquired the
Sportsman in 2011 via short sale. After addressing deferred maintenance, 5 units were rehabilitated and 6 new homes added. The park grew to 34 lot rentals and 20 park-owned homes.

Vigorous leasing activity provided significant upside across the newly-installed park-owned homes and renovated units. Property management change and increased rents in Q4 2012 helped drive asset value to $850K.

Annual revenue $72,000 $120,000
Annual NOI $30,000 $55,000
  Asset Value $550,000 $850,000

This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by the offering materials from a principal. To obtain further information, you must complete our investor questionnaire and meet the suitability standards required by law.