Contact Information

Mobile Home Park Details

  • Price: $2,200,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 15.5%
  • Property ID: 1610974
  • Posted On: Feb 23, 2022
  • Updated On: Feb 23, 2022

Property Description

New OK park listing Feb 23 2022!! Country Aire, a 130 site MH (56) RV (74) park. $2,200,000, 9.7-15.5% cap, $16,923/site, 3.6-4.7x income, includes 47 park rental owned homes, 100% occupied, avg age of 2000, $550/mo avg rent. 5 MH site rent @ $550/mo. 2 bunkhouses $550/mo, 80' x 130' MH site size, 74 RV @ $400/mo. 35' x60' RV site size. lies on 41 acres with undeveloped additional land in the center of the park. Currently 97% occupied for 4 months but RV is historically 50% occupancy avg per year. City water but owner may use well water, 2 cell lagoon sewer, trash is multiple dumpsters, owner pays all utilities.

Location

Woodward, OK, population 12,500, is the commercial hub of NW OK and the largest city in a 9 county area. The park lies just outside the city limits to the SW.

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Park Information

Community Type: All Age
Number of MH Lots: 56
Total Occupancy: 97.0 %
Year Built: 1985
Average MH Lot Rent: $230
Size: 41 acre(s)

Financial Information (Actual)

Gross Income $468,014
Operating Expense $264,033
Net Operating Income $203,981
Expense Ratio 56.4 %
Debt Info no debt

RV Information

Number of RV Lots: 74
Average RV Lot Rent: $400

Utility Information

Water: City
Water Paid By: Park
Sewer: Treatment Plant

Park-Owned Homes

Number of Park-owned Homes: 47
Average Rent for Park-owned Homes: $550

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