612 W 2nd St, Edmond, OK 73003

Very unique investment property in Edmond schools. This 8-unit mobile home park is grandfathered into Edmond city zoning. 7/8 of the homes are rented and of those 7, 6 have been updated. Recent updates include new HVAC units, new water heaters, several gut remodels, skirt repairs, new decks/stairs, new fencing and electrical service, updated plumbing/sewer, gravel parking. One of the homes needs to be replaced with a new unit. Once replaced, it should rent for $950 - $1000. Current gross rents are $5045. Replacing the derelict trailer brings that to $5995 (extra $950 rent for $15k - $30k investment). If you upgraded two smaller trailers with newer/larger homes (now rented at $545 and $500) you could add another $855 gross income ($950*2 - $1045 current) for a total of $6850 (another $30k - $60k investment). If all rents were market, $7150 gross income is realistic. Seller will carry back portion of sale depending on offer and buyer. Seller is licensed agent in state of OK #170512.