Contact Information

Shelley Clements

Mobile Home Park Details

  • Price: $894,000
  • Purchase Method: Cash, New Loan
  • Land: This is land for developing a mobile home park
  • Cap Rate: 17.0%
  • Property ID: 1425277
  • Posted On: Apr 20, 2021
  • Updated On: Apr 20, 2021

Property Description

Calling all Investors! This is your chance to own an income producing mobile home park near Lake Murray in Southern OK. This park currently has a 17% cap rate and could easily be closer to 20%. There are over 30 units on 2.5 acres with another 2.5 acres that could be developed. This park has several long term tenants which provide consistent rental income. If you want to make your money work for you call me for more information about this amazing opportunity.

Location

Ardmore Oklahoma-Half way between Oklahoma City and Dallas- Near the beautiful Lake Murray

Amenities

  • Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 37
Total Occupancy: 90.0 %
Year Built: 19701980
Average MH Lot Rent: $775
Size: 5 acre(s)

Financial Information (Actual)

Gross Income $240,000
Operating Expense $85,867
Net Operating Income $154,133
Expense Ratio 35.8 %
Debt Info small loan on the proeprty

Lot Information

Singlewide Lots: 24
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 0

RV Information

Number of RV Lots: 16
Average RV Lot Rent: $775

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 34
Average Rent for Park-owned Homes: $850