Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 15.5%
- Listing ID: 1610974
- Posted On: Feb 23, 2022
- Updated On: Dec 2, 2022
Description
New OK park listing Feb 23 2022!! Country Aire, a 130 site MH (56) RV (74) park. $2,200,000, 9.7-15.5% cap, $16,923/site, 3.6-4.7x income, includes 47 park rental owned homes, 100% occupied, avg age of 2000, $550/mo avg rent. 5 MH site rent @ $550/mo. 2 bunkhouses $550/mo, 80' x 130' MH site size, 74 RV @ $400/mo. 35' x60' RV site size. lies on 41 acres with undeveloped additional land in the center of the park. Currently 97% occupied for 4 months but RV is historically 50% occupancy avg per year. City water but owner may use well water, 2 cell lagoon sewer, trash is multiple dumpsters, owner pays all utilities.
Location
Woodward, OK, population 12,500, is the commercial hub of NW OK and the largest city in a 9 county area. The park lies just outside the city limits to the SW.
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 56 |
| 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 |
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 |
