East Hanks Trail Mobile Home Park
Mobile Home ParkWoodward, Woodward County, Oklahoma
Listing Details
- Asking Price
- $390K
- Lots
- 16
- Acreage
- 3.85 acres
- City
- Woodward
- County
- Woodward County
- State
- Oklahoma
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About East Hanks Trail Mobile Home Park
To download the Offering Memorandum and financials you can click "View OM" or "Due Diligence" and you will be prompted to sign a confidentiality agreement. Once done you will be able to immediately download the information. For any questions or concerns please contact Adrienne Luera.
The MHP Value Team is pleased to present East Hank Trail MHP, a 16-site, all-age manufactured housing community located on 3.85 acres in Woodward County, Oklahoma, within reach of the Oklahoma City metro. The property operates on a simple lot-rent model with 100% tenant-owned homes, eliminating the capital expenses associated with park-owned home repairs, replacements, and resale.
Seller financing is available with a $260,000 down payment, 6% interest-only payments, and a 3-year term, providing buyers with a flexible financing option and reduced upfront financing requirements.
The community is currently 81% occupied, with 13 of 16 sites occupied and only three vacant lots remaining to reach full stabilization. Current rents average $313 per month compared to an supported market rent of $375 per month. With rents never having been raised, the property offers a clear opportunity to increase income through rent growth, and lease-up of the remaining vacant sites.
East Hank Trail MHP offers an immediate opportunity for rent growth, with four remaining tenants not yet on new leases who could be transitioned to the $50 monthly water surcharge, increasing monthly income and overall NOI. Water is master-metered through Woodward County, while the property is served by a private septic system with four tanks, including one recently installed. Gravel roads have also recently received fresh gravel.
The community is currently managed by a third-party management company handling marketing, rent collection through RentBind, and tenant leases. With below-market rents, only three vacant sites, and a simple tenant-owned home model, East Hank Trail MHP offers a clear value-add opportunity through lease-up, rent increases, and continued operational improvements.
Frequently Asked Questions
How much does East Hanks Trail Mobile Home Park cost?
East Hanks Trail Mobile Home Park is listed at $390K. Request full financials through Parkvestor for a direct introduction to the listing broker.
How many lots does East Hanks Trail Mobile Home Park have?
East Hanks Trail Mobile Home Park has approximately 16 lots across 3.85 acres in Woodward, Oklahoma.
What type of property is East Hanks Trail Mobile Home Park?
East Hanks Trail Mobile Home Park is a mobile home park located in Woodward, Oklahoma, currently listed for sale.
Where is East Hanks Trail Mobile Home Park located?
East Hanks Trail Mobile Home Park is located in Woodward, Oklahoma. Browse more mobile home parks for sale in Oklahoma on Parkvestor.
How do I get more information about East Hanks Trail Mobile Home Park?
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