320 Bluff Ave 2,550 SF Specialty Building Offered at $259,900 at a 10.16% Cap Rate in Poteau, OK 74953

This 17-space mobile home park is located within the city limits of Poteau, Oklahoma, just 40 minutes from Fort Smith, Arkansas, and surrounded by several growing small towns. The park features full city utilities (water, sewer, and electric) and offers exceptional cash-flow and expansion potential with several units nearly rent-ready and multiple vacant spaces available for future homes.
Currently, three vacant mobile homes were vandalized, resulting in broken window glass. A professional glass contractor has provided a quote of $2,800 to repair all damages. In addition, all vacant homes will need electric, water, and sewer connections re-established before being rented, along with general maintenance and cleaning, as they have been sitting for nearly a year. Once this light rehab is completed, the homes will be ready for occupancy.
Current Income
• 3 units rented:
• Two at $800/month
• One at $600/month
• Total monthly income: $2,200
• Annual income: $26,400
Tenants pay all utilities, and the owner has no out-of-pocket expenses other than property tax and insurance.
Expenses
• Property tax: $368/year
• Insurance: $1,400/year
Value-Add Potential
• 4 additional homes are very close to being rent-ready and only need utility reconnections and minor maintenance.
• Once occupied, projected income: $67,200/year.
• 10 vacant spaces available to bring in additional mobile homes.
• Full occupancy potential income: $96,000/year.
• Minor vandalism repairs ($2,800) and utility hookups represent a low-cost opportunity to quickly boost revenue.
• Strong rental demand in this area ensures fast tenant placement once units are ready.