Mobile Home Park Details

  • Cap Rate: 6.3%
  • Listing ID: 1400846
  • Posted On: Mar 3, 2021
  • Updated On: Sep 20, 2021

Description

Marcus and Millichap is pleased to present the opportunity to acquire a manufactured housing community located in North Bend, Oregon, just outside of Coos Bay on the coast. Dunes Mobile Ranch is an all-ages park that is comprised of sixty-six, all tenant-owned homes and just under ten acres.

The current lot rents in place are approximately $405 with a scheduled increase to take effect April 1st, which would increase the average rents to $443. All homes are owned by the residents and the park is serviced by public water and septic. In addition, there is a well that provides water for irrigation in the park. The septic system was upgraded in 2009 improving the pumping system and increasing the capacity. The property also features a laundry room and an additional building for use as a shop or office.

Location

The property sits between Highway 101 and the Pacific Ocean, with direct access to the Spinreel Sand Dunes. Dunes Mobile Ranch is just a short drive from the Coos Bay Airport in Coos Bay.

Amenities

  • Laundromat
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 66
Total Occupancy: 100.0 %
Year Built: 1960
Average MH Lot Rent: $405
Size: 11 acre(s)

Financial Information (Pro Forma)

Gross Income: $329,299
Operating Expense: $127,731
Net Operating Income: $201,568
Expense Ratio: 38.8 %

Utility Information

Water: City
Sewer: Septic

Other Listings by Anja Jauregui

Similar Mobile Home Parks for Sale