Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 6.0%
- Listing ID: 1435512
- Posted On: May 8, 2021
- Updated On: Apr 19, 2022
Description
Presenting investors the opportunity to acquire a highly-occupied, turnkey 55+ MH Community on city services with convenient access to local amenities, employment, healthcare services and the greater Portland Metro.
The investment opportunity is located in a growing Portland outlying area, Wood Village, and on major thoroughfare, NE Halsey Street. The community’s turnkey declaration is based in consistently high occupancy and its 55+ resident-profile on city services, presenting an easy-to-manage MHC with strong future potential. Wood Village is a desirable area with low vacancy.
The MHC's stable cash-flow and occupancy base are driven by its main thoroughfare locale; proximity to local trade area amenities including Target, Fred Meyer, Kohl’s, Columbia Outlet Stores, Mount Hood Medical Center and more. The subject property has convenient commute options to the greater Portland area and Hood River with an I-84 on-ramp less than a mile away and public transit options just outside the property’s entrance.
The property is fully occupied and has maintained historically low turnover regardless of unit type. Strong local market rental statistics show the property’s current rents present a significant upside opportunity.
ALL PROPERTY SITE VISITS TO BE SCHEDULED THROUGH LISTING BROKERS - PLEASE DO NOT CONTACT OWNERSHIP OR RESIDENTS
Please contact listing brokers for additional information.
Location
INVESTMENT HIGHLIGHTS:
+ Highly-Occupied 55+ Community on City Services
+Convenient I-84 access to Downtown Portland & Greater Metro
+Growing Community with New Multi-Family and Retail Development located on Trimet Transit Routes & Nearby Significant Trade Areas, Employment Drivers &
+Turnkey Opportunity with Upside
Park Information
Community Type: | 55 And Over |
Number of MH Lots: | 12 |
Total Occupancy: | 100.0 % |
Average MH Lot Rent: | $615 |
Size: | 1 acre(s) |
Financial Information
Net Operating Income: | $107,989 |
Utility Information
Water: | City |
Water Paid By: | Tenant - Submetered |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 7 |
Average Rent for Park-owned Homes: | $764 |