Mobile Home Park Details
- Purchase Method: Cash, Seller Financing
- Cap Rate: 7.1%
- Listing ID: 3496059
- Posted On: Aug 9, 2023
- Updated On: Nov 7, 2023
Description
College Acres is an established and well maintained 108 lot Mobile Home Community in Weatherford, OK, located across the street from Southwestern Oklahoma State University. This small bedroom community is 70 miles from Oklahoma City, OK.
Location
1300 North 7th Street, Weatherford, Oklahoma.
Link to Offering Memorandum:
https://www.c21bowman.com/mhp/om/collegeacres.pdf
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 108 |
| Total Occupancy: | 59.0 % |
| Average MH Lot Rent: | $200 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $152,400 |
| Operating Expense: | $12,709 |
| Net Operating Income: | $141,691 |
| Expense Ratio: | 8.3 % |
| Debt Info: | Owner Financing, $2,000,000, 5 years, 6% interest only, balance due in 5 years |
Lot Information
| Singlewide Lots: | 108 |
Utility Information
| Water: | City |
| Water Paid By: | Tenant - Individual Service |
| Sewer: | City |