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    612 W 2nd Street

    Edmond, OK 73003
    • $560,000
    • STATUS: Active
    • ON SITE: 51 days
    • MLS #: 937115
    UPDATED: 51 min ago
    $560,000
    • 18
      BEDS
    • 0.39
      ACRES
    • 12
      BATHS
    • 0
      1/2 BATHS
    • 6,860
      SQFT
    • $82
      $/SQFT
    Neighborhood:
    Main Street Add
    Type:
    Multi-Family
    Built:
    1953
    County:
    Oklahoma

    School Information

    Elementary School:
    Ida Freeman Es
    Middle School:
    Cheyenne Ms
    High School:
    North Hs
    School District:
    Edmond
    School Ratings & Info
    Offered by Tyler C Weinrich of Homestead + Co.

    Description

    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.

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    ©2021 MLSOK, Inc. We do not attempt to verify the currency, completeness, accuracy or authenticity of the data contained herein. Information is subject to verification by all parties and is subject to transcription and transmission errors. All information is provided “as is”. The listing information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective purchasers. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of MLSOK, Inc. Data last updated: 2021-01-24T16:02:03.257.
    www.erhardtgroup.com/homes/112355853
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    612 W 2nd Street Edmond, OK 73003

    • Price: $560,000
    • Status: Active
    • Updated: 51 min ago
    • MLS #: 937115
    18
    Beds
    12
    Baths
    0
    ½ Baths
    0.39
    Acres
    6,860
    SQFT
    $82
    $/SQFT
    1953
    Built
    Neighborhood:
    Main Street Add
    County:
    Oklahoma
    Elementary School:
    Ida Freeman Es
    Middle School:
    Cheyenne Ms
    High School:
    North Hs
    School District:
    Edmond
    Property Description
    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.
    Exterior Features

    Construction Mobile Home Parking Gravel Drive Roof Other Style Other

    Interior Features

    Baths Total 12.00 Foundation Conventional

    Property Features

    Conditions Affecting Sale Owner Associate Gross Expense 4339 Gross Income 54240 Property Sub Type More Than 4 Units Rent 4520.00 Terms Of Sale As is ConditionCashConventionalSeller Will FinanceWill Trade

    ©2021 MLSOK, Inc.
    Listing provided courtesy of Tyler C Weinrich of Homestead + Co.
    ©2021 MLSOK, Inc. We do not attempt to verify the currency, completeness, accuracy or authenticity of the data contained herein. Information is subject to verification by all parties and is subject to transcription and transmission errors. All information is provided “as is”. The listing information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective purchasers. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of MLSOK, Inc. Data last updated: 2021-01-24T16:02:03.257.
     
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    Erhardt Group LLC at Keller Williams Mulinix OKC
    3421 W. Rock Creek Rd
    Norman OK, 73072
    Offered by Tyler C Weinrich of Homestead + Co.