1123 E 8th Ave Immeuble residentiel 12 lots 365 950 € (30 496 €/Lot) Taux de capitalisation 10,95 % Stillwater, OK 74074

Copper Cove Mobile Home Park presents investors with a compelling opportunity to acquire a well-located, value-add mobile home community in Stillwater, Oklahoma. This 13-pad park spans approximately 0.87 acres and is currently operating at 92% occupancy with 12 of 13 pads occupied. All occupied units are park-owned single-wide homes with an average monthly rent of $475, significantly below market, creating immediate upside potential through strategic rent increases and operational improvements.
Originally developed around 1970 (per ownership), the park is designated as legally non-conforming (grandfathered) under current zoning, and it is not located in a flood zone. The current ownership group has held the asset for approximately 2.5 months and has already implemented improvements including cleanup of trash and debris and leasing of two previously vacant homes. A dedicated onsite manager is in place, providing a seamless transition for the next owner.
The park operates on city water and city sewer, with tenants being directly metered for electricity and gas. Water is currently mastermetered and paid by the park, with no back-billing in place—offering a perfect opportunity for the next owner to implement a RUBS program or install sub-meters to reduce operating expenses. Underground piping is believed to be cast iron, and while the exact amperage to each pedestal is unknown, each pad has separate electric and gas meters. The road is asphalt and rated average to below average condition by the owner, with road maintenance handled by the park.
All 12 occupied homes are fully titled and owned by the park, and no homes require removal. There are no delinquent rents or back taxes on any of the homes. The park utilizes a mix of monthly and annual lease agreements, and all tenants are paying rent online, further streamlining operations. Off-street parking is available for all residents, and tenants are responsible for mowing their own lots while the park maintains vacant and common areas.
From an operational perspective, ownership has identified several key strategies for future improvements including:
•Billing back water/sewer via flat fees or submeters
•Rehabbing homes upon vacancy to support rent increases
•Selling homes to tenants to reduce future maintenance responsibilities
This property is being offered free and clear of any assumable debt, and seller financing is not being considered.
Copper Cove MHP is a rare opportunity to acquire a stabilized, city serviced, POH community with immediate revenue upside in an Oklahoma college town. Investors seeking yield with operational levers for NOI growth will find this a highly attractive asset.
MR. LANDMAN, LLC is a licensed real estate firm in the State of Oklahoma under Lic#201400. Jonathan Fisher is a licensed Managing Broker in the State of Oklahoma under Lic#201422.
Location:
Stillwater is the tenth-largest city in the U.S. state of Oklahoma, and the county seat of Payne County. It is located in north-central Oklahoma at the intersection of U.S. Route 177 and State Highway 51. As of the 2020 census, the city population was 48,394. The Stillwater Micropolitan Statistical Area had a population of 78,399 according to the 2012 census estimate.
Oklahoma State University is a public land-grant research university in Stillwater, Oklahoma, United States. The university was established in 1890 under the legislation of the Morrill Act. Originally known as Oklahoma Agricultural and Mechanical College (Oklahoma A&M), the Oklahoma State University campus in Stillwater is the flagship institution of the Oklahoma State University System, which enrolls more than 34,000 students across its five institutions with an annual budget of $1.86 billion for fiscal year 2024.
Here are the largest employers in Stillwater:
•Oklahoma State University (6,007 employees)
•Stillwater Medical Center (1,031 employees)
•OnCue Express (903 employees)
•Stillwater Public Schools (779 employees)
•City of Stillwater (585 employees)
•Walmart (402 employees)
•Simmons Bank (300 employees)
•Oklahoma Career Technology (280 employees)
•National Standard (185 employees)
•Ocean Dental Headquarters (175 employees)
•Kicker Audio Headquarters (127 employees)
The median home cost in Stillwater is $209,600. Home appreciation the last 10 years has been 70.8%. Home Appreciation in Stillwater is up 17.0%.
Renters make up 54.8% of the Stillwater population.
The average 1-bedroom rents for $740/month.
The average 2-bedroom rents for $890/month.
The average 3-bedroom rents for $1,240/month.
The average 4-bedroom rents for $1,400/month.
Stillwater has seen the job market decrease by -3.0% over the last year. Future job growth over the next ten years is predicted to be 29.4%, which is lower than the US average of 33.5%.
Stillwater violent crime is 14.6. (The US average is 22.7)
Stillwater property crime is 41.9. (The US average is 35.4)