Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, Assumable Loan
- Cap Rate: 7.2%
- Listing ID: 125158
- Posted On: Apr 3, 2012
- Updated On: Nov 28, 2012
Description
Owners say "MAKE AN OFFER! OWNER FINANCING AVAILABLE" "THE NUMBERS HAVE TO WORK SO MAKE AN OFFER!!" This park is the perfect park for someone wanting to increase the income and increase the value. There are a total of 6 wells (4 of which are back up wells) and a very well designed septic system, upswing potential by selling a number of park owned homes that have recently been vacated. The roads are in good condition, and the tenants fully appreciate the beauty and quiet lifestyle of the area. Over the last year the current owners have made many improvements to the park making this the perfect time for a new buyer to increase the tenancy. There is a creek that runs through the middle of the park. What makes this park a good buy is the tremendous opportunity for growth.
Location
Rainier, Oregon is approximately 1 hour from Portland along Highway 30 and the Columbia River.
Amenities
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 91 |
| Total Occupancy: | 72.0 % |
| Average MH Lot Rent: | $320 |
| Size: | 115 acre(s) |
Financial Information (Actual)
| Gross Income: | $348 |
| Operating Expense: | $137 |
| Net Operating Income: | $210 |
| Expense Ratio: | 39.4 % |
| Debt Info: | Owner Financing |
Lot Information
| Singlewide Lots: | 1 |
| Doublewide Lots: | 90 |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 34 |
| Average Rent for Park-owned Homes: | $600 |