Tulsa - Trails End & Leisure Estates 2 Multifamily Properties Offered at $10,950,000 in Multiple Locations

NEW LISTING 2 MHC IN TULSA $10,950,000. The 71 site Trails End in Catoosa and the 46 site Leisure Estates in Claremore, OK, both very desirable Tulsa suburbs, 12 miles apart. Highest quality park owned homes portfolio in the State of Oklahoma. Includes 89 modern park owned mobile homes, avg age of 2018. 66% are LTO's. Avg site rent of $516 and 625mo (LTO), current occupancy of 91%.
Trails End (71 sites)is located in the E. suburb of Catoosa, in a serene setting with an "out of the city" feel, yet only 5 minutes to Tulsa proper and 8 minutes to the Hard Rock Casino. Heavily treed with efficient drainage and excellent near new asphalt streets. Of the 71 sites, 57 are park owned mobile homes of which 40 are LTOs with an avg age of 2019, 11 are rentals with avg. age of 2016 and 3 are on notes, avg age of 2013. 92% occupancy. All age/All MH community. A former owners stick-built home is the office, accompanied by a large maintenance garage. Utilities include master metered city water and a chlorination/de-chlorination wastewater system. Rent includes water, sewer and trash, tenants pay electricity and park required homeowners insurance. Matching storage sheds rent for $50/mo.
Leisure Estates (46 sites)was built in the late 1970's in the heart of Claremore, OK, a NE suburb of Tulsa. The community includes 32 park owned mobile homes, of which 19 are LTOs, avg age 2014, 11 rentals, avg age 2016. Occupancy is 91%. All age/all MH with excellent asphalt streets. The tenants pay all utilities, including water, sewer, trash and electricity as well as park required homeowners insurance. Most sites have storage sheds.
In place Community NOI of $482,416 and Home NOI of $344,670.
Keith Wilson Co. consistently sells the majority of Oklahoma MHC's and this portfolio arguably represents one the highest quality portfolio of park owned mobile homes of any community in the State of Oklahoma.