Description
OKLAHOMA CITY AREA 4 Mobile Home Park Portfolio, to be sold individually or as a package. Includes 1. Granada Village (334) 4 star-best park in OKC, LOOPNET ID # 16384165, Lakeview Terrace (160) 4 star LOOPNET ID # 16384423, Anchor Inn & Airway (143) LOOPNET ID # 16384433 & 16384441 and Woodland Hills (72-Choctaw) LOOPNET ID #16384396. Total of 709 spaces for $10,575,000, $14,915/space, 8.66% cap rate on real numbers, 94% occupancy, 6.24x gross, 46% expenses, all city water/sewer except for Woodland Hills, lagoon at Lakeview and Woodland, landlord pays for utilities. (Only 4 notes (1%), 8 park-owned homes (1%) and 52 R.V's (7%). Airway has an assumable loans, Woodland is potentially assumable and the other 3 are cross-collateralized but the lender will seperate for a a new loan. Opportunity to buy a quality, well located, high occupancy mobile home portfolio in a great economy for UNDER $15,000/pad.
The 4 mobile home parks are located throughout the Oklahoma City metro area and all but Woodland Hills (E) are in the same part of the metro (W/NW). Granada is just south of I-40 on MacArthur, Lakeview Terrace is in the NW area, 1/4 mile south of Lake Overholser on 10th, Anchor/Airway are in the NW sector between Portland and Meridian on 10th and Woodland Hills is in Choctaw, an east OKC suburb, on 10th, 1 block from Choctaw High School.