An old mobile home park that has been transformed into an RV park has been sold to West Coast investors, according to a report.
The RV park in Midwest, Oklahoma has been purchased by Orange County, California-based Edgewood RV Park OKC LLC. The deal was sealed for $3.2 million.
Edgewood RV Park, situated at 8801 SE 29, was sold by WAIP LLC, with Nicholas Preftakes as its manager.
According to the report, the seller spent $1,332,000 to upgrade the 15.3-acre park that lies across Interstate 40 from Tinker, said the broker Keith Wilson. The majority of tenants are monthly and employed by Boeing at Tinker, or in oil-related industries, he added.
Edgewood RV Park features an office/clubhouse that is 2,000 square feet, a new community pool with a deck, asphalt streets, as well as municipal sewer and water.
The $1.3-million improvements “positioned it as one of the better RV parks in the OKC area with modern homes and clean pads,” Wilson said.
“The California investors saw this as an opportunity to acquire a sizeable, well-occupied, clean, quality park in a major metro area. Just another example of the capital flows out of the high-price, (low-return)-rate environment in California,” he said.