Land Lease Community for Sale in Elk City, Oklahoma
1920 W. 7th St.
Elk City, OK 73644
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This Mobile Home Park is SoldView more Mobile Home Parks for Sale in Elk City, OK.
Mobile Home Park for Sale
|Number of MH Lots:||122|
|Purchase Method:||Cash, Seller Financing, New Loan|
|Posted on:||Jun 02, 2010|
|Updated on:||Sep 02, 2011|
Cedar Village was built in 1982 and has 18.5 acres, MOL, of land and 122 spaces. It is located in town and is on city water, sewer and trash removal, which is paid by the park. We have purchased 96 water meters and have been installing them when we bring in a home. The roads are paved with asphalt, street lights throughout the park and a storm shelter located under the office.
Cedar Village Mobile Home Community, LLC, owns 5 homes and they are sold through a Lease Option. We get $1200.00 down and $400.00 per month plus $150.00 for lot rent. I have never had to put an ad in any paper to try to sell/lease them.
We have 64 pads being used at the present time and with flood zone issues we can only use about 90 pads at the present time so there is still about 26 pads available. There is a rain runoff ditch that runs through the park. It runs straight in the park for about 800 feet then turns east. FEMA says where it turns is in a flood zone and I can't use these sites for Mobile Homes but I can use it for RV's and Storage lockers.
Where we have vacant lots I have offered them to tenants, on either side, at a reduced rate for a larger yard. We currently have 58 Singlewides @ $150.00 per month, 5 Doublewides @ $180.00, and 1 vacant lot @ $110.00. We just invested $20,000.00 for a new fence around the park in 2009.
With an Annual Gross Income of $143,500.00 and Annual Operating Expenses of $ 50,000.00, about 35%, the Net Operating Income is $93,500.00.
Some other things that are included in the price is:
1.) A Kubota Tractor with Backhoe, Brush hog and scraper attachments.
2.) 16 foot trailer for towing.
3.) 96 water meters and 50 have already been installed.
4.) These can easily be converted to an automatic read in the office
5.) 40, 200 amp pedestals and all but 3 have been installed already
6.) Mowers, weedwackers and various landscaping tools.
7.) Assortment of brass fittings and Pex connectors including Â¾ and 1â€ crimpers.
8.) 400 feet of new underground water hose
9.) Various tools for rebuilding Mobile Homes
It is very difficult to get all of the information that I am sure they would like in this little letter, so if you have any interest in our park please contact me at 580 210-8330 or my email is; firstname.lastname@example.org.
AttachmentsCedar Village MH Park for sale 2011.doc
|Number of MH Lots:||122|
|Average MH Lot Rent:||$150,180|
|Net Operating Income||$93,000|
|Water Paid By:||Park|
|Number of Park-owned Homes:||5|
|Average Rent for Park-owned Homes:||$420|