Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.5%
- Listing ID: 113342
- Posted On: Jan 13, 2012
- Updated On: Mar 26, 2012
Description
Wonderful Senior 55+ MHP with 102 homes. Property has paved streets, is serviced by 2 very well maintained and high producing wells, City Sewer. There are 2 wonderful ponds at the park. 28 of the homes back up to the ponds. 102 Carports and sheds in very good shape, managers building, onsite laundry room. The property has been well maintained over the years with the owner having completed many improvements in the last few years including removing between 30 -40 trees, much landscaping, well pumps were recently replaced. The park rarely has a vacancy. There was a recent abandonment and the house will go with the park to sell. This will take either Cash, or approximately 35% down to complete. A strong buyer looking for a large 55+ park.
Location
Located along the I-5 corridor approximately 20 minutes south of Salem Oregon and 1 hour and 30 minutes from Portland Airport. The park is adjacent to a medical facility and a block from a strip mall.
Amenities
- Laundromat
- Storage
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 102 |
Total Occupancy: | 99.9 % |
Year Built: | 1972 |
Average MH Lot Rent: | $435 |
Size: | 17 acre(s) |
Financial Information
Gross Income: | $527 |
Operating Expense: | $230 |
Net Operating Income: | $296 |
Expense Ratio: | 43.6 % |
Debt Info: | No Debit |
Lot Information
Singlewide Lots: | 34 |
Doublewide Lots: | 68 |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | Well |
Water Paid By: | Park |
Sewer: | City |