Lakeview Terrace Mobile Home Park is a 4 star 163 space in Oklahoma City for sale for $2,450,000. One of the top parks in
OKC. $15,030/space, 10.4% cap, no park-owned homes, notes or RV'S. ALL PAD RENT!!! 96% occupancy, $230 rents, 5.45x gross, 43% expenses, landlord pays utilities which include city water, sewer is lagoon (2 cells) but seller can tap into adjacent park sewer line, close lagoon and submeter for approx. $150,000. Forward looking Cap then goes to 11 1/2%. There are 4 nearby parks, inferior park across the street with identical rents, but the other parks are $70-90 higher. Seller would have already raised rents $25 but wants to submeter first. Oklahoma City is the #1 economy of any US metropolitan city over 1,000,000 population, 5.2 unemployment, most affordable city in Us, #1 business start up and entrepenurial city in US, top 5 fastest growing cities in the US, new NBA team, only major skyscraper to be started in 2009, the $750,000,000 Devon Tower, 2,500,000'