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    39733 1510 Dr Dewey, OK 74029

    For Sale
    $450,000

    7-unit park, 8.71% cap rate, excellent location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a well-maintained, seven-unit mobile home park situated on 7.68 acres in Dewey, Oklahoma, Washington County (zip code 74029). Priced at $450,000, this property boasts a strong 8.71% capitalization rate and a current Net Operating Income (NOI) of $39,215, reflecting a 100% occupancy rate. The park consists of seven single-story buildings, all meticulously maintained. Six units were newly constructed in 2018, each measuring 14x60 feet, and featuring Hardy Board siding and metal roofs. A seventh unit, a 14x61 foot model, was added in 2016. Each unit offers a desirable 2-bedroom, 2-bathroom layout. The property is conveniently located just outside Dewey city limits, offering potential for future expansion. A significant advantage is the proximity to a new, no-emission refinery currently under construction within one mile, promising increased local demand and economic growth. This presents a compelling investment opportunity in a thriving area with strong potential for future returns. The property's Class C designation and owner/user investment type further enhance its appeal. The zoning is outside city limits.

    Property Features for 39733 1510 Dr

    General Information

    Property type
    Multifamily properties
    Class
    C
    Lot Size
    334,541 SF

    Building Details

    Year Built
    2018
    Buildings
    7
    Stories
    1
    Units
    7

    HighLights

    • $450,000 asking price for a 7‑unit mobile home park.
    • 8.71% cap rate with a $39,215 NOI.
    • 100% occupancy.
    • Seven (7) units, all 2‑bedroom, 2‑bathroom, built in 2018 (six units) and 2016 (one unit).
    • Situated on 7.68 acres outside Dewey, OK city limits in Washington County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Dewey
    County
    Washington
    State
    Oklahoma
    Longitude
    -95.918268
    Latitude
    36.799455

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    FAQs

    What type of property is this?
    Multifamily property - 7-unit park, 8.71% cap rate, excellent location.
    Where is this multifamily property located?
    The property is located at 39733 1510 Dr Dewey, OK.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: $450,000 asking price for a 7-unit mobile home park.; 8.71% cap rate with a $39,215 NOI.; 100% occupancy.
    Request Owner's contact information
    39733 1510 Dr Dewey, OK 74029
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    39733 1510 Dr Dewey, OK 74029
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