Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.5%
- Listing ID: 113345
- Posted On: Jan 13, 2012
- Updated On: Mar 26, 2012
Description
Senior 55+ park with 102 spaces. There are 2 ponds on the property which the tenants love, the park utilizes 2 very well maintained wells. The park is on City Sewer. Over the past few years the owner has upgraded a lot of the park by rebuilding most of the car ports, adding 2 new well pumps, paving the roads and removing between 20 and 50 trees. There is one recently abandoned home that will go with the park. Other than that all the spaces are occupied with All the other spaces paying rent. It is rare that there is a vacancy. This will take a strong buyer with either Cash or 35% down to finance this wonderful Senior Park.
Location
Albany is along the I-5 corridor approximately 20 minutes south of the state Capitol, Salem, and 1.5 hours south of Portland Airport. The park sits adjacent to a medical facility and a block from a Fred Meyer center. Very desirable location for Seniors
Amenities
- Handicap Accessible
- 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: | $532 |
| Operating Expense: | $230 |
| Net Operating Income: | $296 |
| Expense Ratio: | 43.2 % |
| 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 |