Contact Information

Mobile Home Park Details

  • Price: $595,000
  • Purchase Method: Cash
  • Cap Rate: 12.3%
  • Property ID: 1192092
  • Posted On: Feb 18, 2020
  • Updated On: Feb 18, 2020

Property Description

Sunrise Family Resort Mobile Home Park is a 50-site mobile home park located in Kingston, Oklahoma. The park is comprised of 42 park-owned homes and eight lot rentals. The property is 30 miles from Interstate 35, a major north-south highway and 99 miles north of Dallas, Texas. The asset is situated on 35.72 acres, and operates on city water and lagoon sewer system.

The park is less than two miles from Lake Texoma which attracts approximately 7 million visitors a year with 80 percent of the 90,000 acres located in Oklahoma. The Lake Texoma real estate market is one of the most desirable areas in the state. Nearby attractions include hiking trails, watersports, and the Kingston Texoma Casino. The largest industries in Marshall County are manufacturing, retail trade, health care and social assistance.

The current unemployment rate in Marshall County is 4.1 percent and future job growth over the next 10 years is predicted to be 19.4 percent. Sunrise Family Resort Mobile Home Park is being offered at a day one capitalization rate over 12 percent. The park offers future ownership the opportunity to take advantage of a high yielding asset with the potential to increase income by adding more sites (13 undeveloped acres).

Amenities

  • Club House
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Park Information

Number of MH Lots: 50
Year Built: 1990
Size: 36 acre(s)

Financial Information (Actual)

Gross Income $128,853
Operating Expense $54,918
Net Operating Income $72,935
Expense Ratio 42.6 %
Debt Info

Utility Information

Water: City

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