3203 S Highway 183 - Manufactured Housing/Mobile Housing FOR SALE


Clinton, OK 73601
$3,750,000 USD
770-933-8585
3203 S Highway 183, Clinton, OK for Sale
$3,750,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/1
null | Request Cap Rate

3203 S Highway 183
Clinton, OK 73601


HIGHLIGHTS

  • There are 32 occupied and 9 vacant POH which could be sold off to tenants. This would reduce operating expenses & capex reserves while reducing basis.
  • Immediate upside in stabilizing the communities from 38% to 62% occupancy by leasing vacant POH & RV sites & infilling vacant lots to achieve 95% occ.
  • Opportunity to increase rates beyond current rent roll average to market.
  • Expense ratios will improve as infill drives revenue. This will lead to a substantial increase on yield.
  • Located within 88 miles of Oklahoma City and its employment hub.
  • Infilling park-models or converting RV sites to MH could improve the profile of the investment and reduce the cap rate range.

OVERVIEW

Colliers Manufactured Housing & RV Group, as exclusive agent for the Owner, is pleased to offer the opportunity to acquire the 138-site Golden West Mobile Home Community, a well-located affordable housing opportunity located directly off U.S. thoroughfare 183 and 3-miles south of I-40 in Custer County, providing convenience to major metro Oklahoma City approximately 88 miles west. The property is inclusive of 138 total sites with 30 tenant-owned homes, 32 park-owned homes, 24 RV sites, and 52 vacant sites. Golden West MHC provides investors with expertise in stabilization and operations a prime value-add opportunity. The asking price for the park is $3,750,000 ($27,174/total site). This represents an 12.6% cap rate on stabilized.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$3,750 USD /SF

# OF UNITS

138

PRICE/UNIT

$27,174

CAP RATE

Request Cap Rate

% LEASED

38%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Golden West Mobile Home Community

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments, Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Mike NissleyColliers Manufactured Housing & RV GroupMore Info
770-933-8585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Mike NissleyColliers Manufactured Housing & RV GroupMore Info
770-933-8585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.