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Mobile Home Park Details

Listing ID: 723144
Posted On: Nov 16, 2016
Updated On: May 26, 2017

Description

- Opportunity to acquire a 42-site park only about half an hour from Tulsa, a major market with a population over 403,000.
- The community is set up on public utilities with 15 sites submetered for water/sewer and charged a $12 fee for trash. The remaining sites are billed directly by the utility providers.
- Offering includes 32 inventory homes, only four of which were vacant as of September 2016. Rents for the homes average $400 in addition to average lot rent of about $154.
- There are few vacant homes in the community indicating that there may be room to add value by increasing lot rents.
- Average vintage of the park-owned homes is 1991, with some as new as 2005.
- Owner has been increasing home rents $25, $40, $50, $100 or $165 as residents move out and new ones move in. A new owner may be able to continue this process to increase income.
- Seller financing may be available.

Location

- South Acres sits off Interstate 44 between the two largest metros in the state. Tulsa is less than forty minutes to the northeast and Oklahoma City an hour and fifteen minutes to the southwest.
- Tulsa has a population of 403,505 and Oklahoma City a population of 631,346 as of July 2015.
- Oklahoma City is the state capital and home to the headquarters of two Fortune 500 companies and several notable attractions. It is also minutes from the University of Oklahoma (enrollment of almost 29,000).
- Several national chains and retailers operate in Bristow including a Walmart Supercenter, Dollar Tree, Sonic, McDonald' s and O' Reilly Auto Parts.
- Several large employers operate nearby in Tulsa including Saint Francis Healthcare System (10,000 employees), Walmart/Sam' s Club (7,500 employees) and American Airlines (7,500 employees).
- Unitherm Food Systems creates and produces thermal food processing equipment and moved its office and test kitchen to Bristow in 2000. Vertical Aerospace provides airplane maintenance, repair and overhaul services and has a 226,000-square-foot facility in Bristow.

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