Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Land: This is land for developing a mobile home park
- Cap Rate: 17.0%
- Listing ID: 1425277
- Posted On: Apr 20, 2021
- Updated On: Jul 15, 2021
Description
Calling all Investors! This is your chance to own an income producing mobile home park near Lake Murray in Southern OK. This park currently has a 17% cap rate and could easily be closer to 20%. There are over 30 units on 2.5 acres with another 2.5 acres that could be developed. This park has several long term tenants which provide consistent rental income. If you want to make your money work for you call me for more information about this amazing opportunity.
Location
Ardmore Oklahoma-Half way between Oklahoma City and Dallas- Near the beautiful Lake Murray
Amenities
- Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 37 |
| Total Occupancy: | 90.0 % |
| Year Built: | 19701980 |
| Average MH Lot Rent: | $775 |
| Size: | 5 acre(s) |
Financial Information (Actual)
| Gross Income: | $240,000 |
| Operating Expense: | $85,867 |
| Net Operating Income: | $154,133 |
| Expense Ratio: | 35.8 % |
| Debt Info: | small loan on the proeprty |
Lot Information
| Singlewide Lots: | 24 |
| Doublewide Lots: | 0 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Number of RV Lots: | 16 |
| Average RV Lot Rent: | $775 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 34 |
| Average Rent for Park-owned Homes: | $850 |
