Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 15.5%
- Listing ID: 1610973
- Posted On: Feb 23, 2022
- Updated On: Feb 23, 2022
Description
New OK park listing Feb 2022! Countryaire, a 130 site MH/RV Park located in Woodward, OK. 56 MH/74 RV, 9.7-15.5% cap, $16,923/site, 3.6-4.7x income, includes 56 MH of which 47 park are owned mobile home rentals, always 100% occupied, $426-$570/mo, 5 site rent @ $230/mo, 2 2010 bunkhouses @ $550/mo. 80'x130' 74 RV, $400/mo. (90%) 35' x 60', city water but owner can use well water if desired. 2 cell sewer lagoon, gravel roads, very clean park, 41 acres-low density, includes additional undeveloped land in the middle of the park. historically MH always full and RV 50% avg/yr. but it has been 97% full the last 4 months
Location
Woodward, OK, population 12,500, is the commercial hub of NW OK. Largest city in a 9 county area. The park lies just outside the city limits to the SW. 1 mile from the High Plains Technology Center and 3 miles from a WalMart Supercenter.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 9774 |
| Total Occupancy: | 97.0 % |
| Year Built: | 1985 |
| Average MH Lot Rent: | $230 |
| Size: | 41 acre(s) |
Financial Information (Actual)
| Gross Income: | $468,014 |
| Operating Expense: | $264,033 |
| Net Operating Income: | $203,981 |
| Expense Ratio: | 56.4 % |
| Debt Info: | no debt |
Lot Information
| Singlewide Lots: | 56 |
RV Information
| Number of RV Lots: | 74 |
| Average RV Lot Rent: | $400 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | Treatment Plant |
Park-Owned Homes
| Number of Park-owned Homes: | 47 |
| Average Rent for Park-owned Homes: | $550 |