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
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 |