Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.5%
  • Listing ID: 1284840
  • Posted On: Jul 8, 2020
  • Updated On: Jan 7, 2021

Description

Columbia Equity Advisors is pleased to offer the Old Hotel Trailer Court for sale. It is located along Interstate 5, just south of Roseburg, in the quaint city of Riddle, Douglas County Oregon. The popular Seven Feathers Casino & Hotel is just a five-minute drive away.

Old Hotel is an older park (late 60’s or 70’s), although it is well taken care of and has a long history of high occupancy and long-term tenants. A manager is on site and vacancy or delinquent rent is a rare occurrence. Overall, the property is in excellent physical condition with most all of the water and sewer lines being replaced.

The current owner paid approximately $80,000 for new paving (formally gravel) throughout the park. Old Hotel is comprised of twenty-seven park spaces with a combination of single wides and RV’s. There are also three stick-built homes in good condition. Included in the $1,400,000 price is a one-acre parcel of commercial zoned land adjacent to the park. A new Dollar General is being built right next to the parcel. The one acre would be ideal for adding more spaces, storage, or another retail use like Dollar General.

Location

Old Hotel Trailer Court is located along Interstate 5, just south of Roseburg, in the quaint city of Riddle, Douglas County Oregon. The popular Seven Feathers Casino & Hotel is just a five-minute drive away.

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 30
Total Occupancy: 100.0 %

Financial Information (Actual)

Gross Income: $187,320
Operating Expense: $78,300
Net Operating Income: $104,340
Expense Ratio: 41.8 %

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Video

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