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Browse More Listings in Multifamily For Sale, Yukon, OK or Oklahoma

Multifamily Property For Sale

Neumayer Mobile home Park

400 S. Ranchwood Blvd., Yukon, OK 73099

Price:
$2,900,000
No. Spaces:
219
Price/Space:
$13,242.01
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Commission Split:
4%
Cap Rate:
10.17%
Gross Rent Multiplier:
6.30
Occupancy:
87%
Year Built:
1982
Lot Size:
25 AC
Find Out More...

Last Verified 11/16/2009 Listing ID 16384043

Highlights

LARGE SUBURBAN PARK WITH ASSUMABLE 6.25%, 30 YR, DUE IN 9 YRS.
TENANTS PAY ALL UTILITIES DIRECTLY TO THE CITY OF YUKON
$13,242/PAD FOR ONE OF THE NICEST "4 STAR" PARKS IN THE OKC METRO AREA

10.17% CAP/ 14.85% CASH ON CASH RETURN/$14,740/YR NTE INCOME
MODERN OFFICE/CLUBHOUSE, SWIMMING POOL, STORM SHELTER
NO PARK OWNED HOMES (LESS MAINTENANCE)

Description

PRICE REDUCED ON 11/5/2009 FROM $3,200,000 TO $2,900,000. $13,242/pad for one of the nicest 4 star mobile home parks in the OKC metro area!!!! 10.17 cap on real numbers plus $14,740/yr. note income on 4 homes 35.8% expenses. 14.85% cash on cash return. Neumayer Mobile Home Park has 219 pads and is a quiet, well maintained park in Yukon, a west OKC suburb of 28,000. Office, swimming pool, storm shelter and new streets. Rents are $180 and the tenants pay ALL utilities directly to Yukon. Rents will increase 1/2010. There are no park-owned homes and 25 RV'S. 87% occupied. New loan or assume $1,750,000, 6.25%, 30 yr am, non-recourse, due in 9 years.

Neumayer lies south of NW 39th (Route 66) on Ranchwood Blvd. in Yukon, OK, a west suburb of Oklahoma City with a population of 28,000. 2 miles north of I-40. 12 minutes from downtown OKC. Quiet fast growing suburb with good schools.

Financial Summary

Debt & Equity Information

Actual
Year
2009
Scheduled Gross Income
$459,840
Operating Expenses
$164,873
Net Operating Income
$294,966

Map of 400 S. Ranchwood Blvd., Yukon, OK 73099 (Canadian County)

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Presented by

Keith Wilson Co.

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Contact Listing Broker

Keith Wilson (405) 414-9803

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Created 9/4/2009

Additional Information for 400 S Ranchwood Boulevard, Yukon, OK 73099

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 1 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Neumayer Mobile home Park

400 S. Ranchwood Blvd., Yukon, OK, 73099