Contact Information

Ron Pillay
Spring Cove RV Park LLC

Mobile Home Park Details

  • Price: $695,000
  • Distressed: This property is in default, REO or in foreclosure.
  • Purchase Method: Cash
  • Cap Rate: 11.0%
  • Listing ID: 2963175
  • Posted On: May 19, 2023
  • Updated On: Jun 5, 2023


25 sites on 9 acres across from Cherokee casino -
Borrower had defaulted and missed payments and failed to upkeep, pay the property taxes. Once we have Foreclosed through the courts successfully and then we will sell to the highest bidder or the highest cash offer.
We are exploring our options and may change accordingly has we feel we have too.


City of Tahlequah - close to casino, walking distances to Walmart, Lowes, restaurant's and banks

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Park Information

Community Type: All Age
Number of MH Lots: 25
Total Occupancy: 60.0 %
Year Built: 1985
Average MH Lot Rent: $300
Size: 8 acre(s)

Financial Information (Pro Forma)

Gross Income $90,000
Operating Expense $36,000
Net Operating Income $54,000
Expense Ratio 40.0 %
Debt Info

Lot Information

Singlewide Lots: 15
Doublewide Lots: 0
Triplewide Lots: 0
Park Model Lots: 15

RV Information

Number of RV Lots: 0

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 15
Average Rent for Park-owned Homes: $500

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