38 Site MHP with huge rental upside
820 North Crider Road
New Cordell, OK 73632
Highlights
- Large upside on leasing vacant spaces
- City water, City sewer, paved roads
- Individually metered utilities, Direct Billed to resident
- All Tenant-Owned Homes
- +14% proforma cap rate
- Loss-to-vacancy upside of +/-$5,650 per month
- Average Household Income = $79,000
Description
LISTING BROKER
Jennifer Stein Real Estate, Inc
Jennifer Stein, Broker.
213-446-5366
jstein@jenniferstein-realestate.com
OK RE Lic: 202306
OUT OF STATE COOPERATING BROKER
PCG Commercial, Inc.
Adrian Del Rio
(916)303-0133
adelrio@pcgcommercial.com
CA RE Lic: DRE# 01431059
Prairie Winds Mobile Home Park built in 1997 is a 38 rots-site community situated on 3.41 acres with paved roads, serviced by individually metered City Water & Sewer, and direct billed electrical. This is an ideal set up with metered utilities minimizing the operating expenses for an investor. There are currently (12) occupied sites with all Tenant - Owned Homes (TOH) rented between $150-$200 per site / month. The rents are very affordable given the average household income in the direct market is $79,000!
This leaves substantial upside for an investor to lease the remaining vacant (26) sites at market rent of $200 equating to an additional $5,650 in gross monthly revenue and a +14% proforma cap rate.
This is a great opportunity to acquire an MHP with 90s built infrastructure serviced by City water & sewer, metered direct billed utilities, and huge lease upside at a really low cost basis of ($9,868) per site. The regions affordability, proximity to daily needs amenities, proximity to a desirable outdoor lifestyle which includes fishing, hunting, and hiking attracting families plus work force housing.
Cordell and Washita County are supported by a diverse, blue-collar and service-oriented employment base:
*Primary Employment Sectors
Healthcare & Social Services (largest employer sector)
Construction & Skilled Trades
Transportation & Warehousing
Agriculture and energy-related industries
Oil & gas extraction and utilities (higher-wage sectors)
Hospital & Medical Services: Cordell Regional Hospital
820 N Crider Road is strategically positioned in Cordell, the county seat of Washita County, in western Oklahoma. The property benefits from convenient access to Interstate 40, a major east-west transportation corridor connecting Oklahoma City to western Oklahoma and Texas markets.
Cordell serves as a regional hub for agriculture, energy, and small business commerce. The area offers stable rural demographics, essential services, and a strong sense of community. The property’s location provides ease of access for tenants and customers while maintaining the affordability and operational advantages associated with smaller Oklahoma markets.
Retail and service amenities are primarily located along Highway 183 and SH-152 corridors, including:
Grocery and convenience stores, Auto services, Local retail shops, Banking and professional services.
Dining & Restaurants
Cordell offers a selection of local dining options and casual eateries serving the surrounding community:
Local Tex-Mex restaurants (e.g., Restaurante Rios), Coffee shops and cafes (Bean & Ladle), Fast food and quick-service options along highway corridors, Family-owned diners and regional cuisine.
