Contact Information

Ron Pillay

Junron Estate

Mobile Home Park Details

  • Price: $895,000
  • Purchase Method: Cash, Seller Financing, New Loan
  • Cap Rate: 11.5%
  • Property ID: 1153259
  • Posted On: Nov 6, 2019
  • Updated On: Jul 17, 2020

Property Description

34 SITES WITH 32 MOBILE HOMES ON 7.5 ACRES WITH CITY WATER AND TWO HOMES PER SEPTIC

we have 34 sites of which 30 is occupied with a rental income of $13335.00 monthly gross .
$895000.00 with 70% financing.
https://sites.google.com/site/junronestates/home

Location

Tahlequah, OK, also known as the capital of the Cherokee Nation Tribe, is located in Northeast Oklahoma between Tulsa, Muskogee, and Fayetteville, AR. Cherokee Nation is the largest tribe in the United States with more than 380,000 tribal citizens worldwide. The tribe had over a $2.16 billion economic impact in the Oklahoma economy in 2018 and accounts for over 11,000 employees. The Cherokee Nation Outpatient Health Center, completed in 2019, is a $149 million 469,000 SF facility that is set to bring in over 850 new jobs to the local economy. The Cherokee Springs Plaza, a 21,600 SF retail center, is a mixed-use development anchored by the new 92,000 SF Cherokee Casino Tahlequah and features highway frontage with more than 28,000 vehicles passing daily. Additionally, Northeastern State University (NSU), located less than 1 mile from the property, is Oklahoma's 4th largest public four-year institution and one of six regional institutions governed by the Regional University System of Oklahoma board. The university currently enrolls over 9,000 students.

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Park Information

Community Type: All Age
Number of MH Lots: 34
Total Occupancy: 100.0 %
Year Built: 1985
Average MH Lot Rent: $295
Size: 8 acre(s)

Financial Information (Actual)

Gross Income $160,020
Operating Expense $57,514
Net Operating Income $102,505
Expense Ratio 35.9 %
Debt Info seller 70% LTV

Lot Information

Singlewide Lots: 34
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 0
Average RV Lot Rent: $295

Utility Information

Water: City
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 30
Average Rent for Park-owned Homes: $416

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