Contact Information

Mobile Home Park Details

  • Price: $815,000
  • Cap Rate: 8.5%
  • Property ID: 1340842
  • Posted On: Oct 15, 2020
  • Updated On: Jan 6, 2021

Property Description

Dutchman’s Mobile Home Park is a 59-site mobile home park located at 34077 South 528 Road in Cookson, Oklahoma. The park consists of 58 lot rentals and one oversized lot rental that is expected to collect $200 in rent beginning September 2020. The property is located on 19 acres and has many trees throughout the property, including in between the homes providing added privacy. The park’s water is supplied by the Lake Region Electric County Cooperative, and has a septic sewer system. The park also has both new water and sewer lines. The tenants pay for their own utilities, which are individually metered.

The city of Cookson, Oklahoma, is a major vacation spot for tourists looking for a quiet and relaxing destination. Cookson offers many local attractions including Lake Tenkiller, the Cookson Wildlife Management Area, camping, fishing, scuba diving, hunting, boating, and the Cherokee Landing State Park.

The asset is just over a mile away from the major Highway 82. There is little direct competition in the area’s rental market, creating a need for available rental spaces. The asset has the possibility to add 12 additional sites to create more monthly income. Dutchman’s Mobile Home Park is being offered at a current cap rate of 8.53 percent and a pro forma cap rate of 9.13 percent.

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Park Information

Number of MH Lots: 59
Year Built: 1951
Size: 19 acre(s)

Financial Information (Actual)

Gross Income $106,800
Operating Expense $16,055
Net Operating Income $69,541
Expense Ratio 15.0 %
Debt Info

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