Pair of Oklahoma Manufactured Housing Communities Changes Hands
In separate transactions, two California-based investors acquired Big Bass Park in Checotah and Rolling Acres in Oklahoma City. Jan182021
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With the affordable housing crisis hitting the West coast metros the hardest and big tech companies committing to fund new developments, Californian investors are focusing on second- and third-tier markets for growth opportunities.
Big Bass Park, a manufactured housing community in Checotah, Okla., has traded for $1.4 million according to
The Oklahoman. According to public records, an entity connected to Sacramento, Calif.-based The BoaVida Group purchased the 105-site property and received an almost $1 million acquisition loan from Five Star Bank. The seller was Superior Management Co., which comprises three sisters who inherited the property from their parents.
Big Bass Park, a manufactured home park fronting Lake Eufaula, sold to a California investor, one of two recent deals by broker Keith Wilson of Keith Wilson Co., Oklahoma City.
Big Bass is on the northeast tip of the lake in the Duchess Creek-Porum Landing area, Wilson said. It has 105 tenant-owned homes on pads renting for $1,200 per year, and storage for 70 boats, 50 spaces renting for $600 a year and 20 renting for $1,000 a year. The property fetched $1.41 million.
The buyer was a California investor, Big Bass MHP LLC. Wilson said the seller was Superior Management Co., three Oklahoma City sisters who inherited the park from their parents who developed it.