890 Road Mobile Home Park

  • $535K
338511 E 890 Rd, Chandler, OK 74834, USA

890 Road Mobile Home Park

338511 E 890 Rd, Chandler, OK 74834, USA
  • $535K

Sub listings

Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
7 Trailers over 40 acres offered at $535k; 6 3-bed/2-baths averaging $640/unit and 1 2-bed/2-bath at $500/month – all units are park-owned with good-quality, long-term tenants (somes over 12 years); each unit is occupied. Average age of the homes range from ’92-’06. 2 commercial use buildings onsite; one is a 480 SF storage building with 4 10’x12′ storage units ($60/month) and the other is a 30’x30′ shop totaling 900 SF ($200/month). Property grosses $4,585 each month, or $55,020 per year.
6 of the homes are set on the eastern front of the parcel and the 7th is on the other side of the property, on the northwestern front, and has a 10’x16′ porch add-on. Of the 6 eastern-front homes, all are on a septic system and 2 are serviced by a well, while the other 4 and the 7th home are connected to rural water; the 7th home to the west has a dedicated septic tank with lateral lines, also EPA approved. Owner does recover water expenditures on the four homes hooked to rural water; these homes are metered and billed for usage. Electric is sub-metered at each of the 7 sites and directly-billed to the residents. 3 underground storm shelters included as well. 2 are in close proximity of the 6 mobiles and the third is near the 7th trailer.

Investment Highlights
7 Homes – 100% Occupied
40 Acres – Expansion Opportunity
Rural Water & Well/Septic
Sub-Metered Electric Direct-Billed
2 Comm Bldgs & 3 Underground Storm Shelters
Newly Refurbished Units – Good Condition
Stocked Pond Onsite

Details

Updated on October 19, 2019 at 7:12 pm
  • Property ID: 22383
  • Price: $535K
  • Year Built: 2000
  • Property Type: Mobile Home Park
  • Property Status: For Sale
  • Lot Size (acres): 40
  • Cap Rate: 5.36%
  • Net Operating Income: 28,694
  • Investment Type: Value Add

Additional details

  • Investment Sub Type: Expansion Opportunity
  • Pro-Forma Cap Rate: 7.52%
  • Occupancy: 100%
  • Pro-Forma NOI: $40,217
  • Pads: 7
  • APN: 0000-02-14N-03E-2-001-00
  • Price/Pad: $76,428.57
  • Address 338511 E 890 Rd, Chandler, OK 74834, USA
  • City Chandler
  • State/county Oklahoma
  • Zip/Postal Code 74834

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What's Nearby?

Education
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Health & Medical
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Real Estate
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Contact Information

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Pete Peterson
  • Pete Peterson
  • 855.596.7976520.318.5321

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Pete Peterson
  • Pete Peterson