Mobile Home Park Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.2%
  • Listing ID: 386287
  • Posted On: Jul 12, 2013
  • Updated On: Oct 27, 2015

Description

Sisters RV park has 7 park owned mobiles 5 of which are manufactured homes and 2 older mobiles,an office building with three attached apartments and 31 RV space hookups on the six acre parcels.The park is across the street from the five pines commercial center which has a brewery, movie theater, athletic club, hotel, cottages, spa and convention center. . Even with the passive non-involved ownership the park nets $65,000+ annually, achieving a 8.2% capitalization rate.This is an excellent opportunity for a "hands-on" owner to purchase a property whereby he/she can increase park income and/or develop for commercial use.

Location

Sisters, Oregon is the west most city in Dechutes County located just East of the cascade mountain range. The Sisters/Bend area provides year around recreational opportunities including skiing, golfing, hiking, biking, rock climbing and fishing/boating in the high lakes of the cascade mountain

Amenities

  • Laundromat
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Park Information

Community Type: All Age
Total Occupancy: 60.0 %
Year Built: 0
Average MH Lot Rent: $500
Size: 6 acre(s)

Financial Information (Actual)

Gross Income: $146
Operating Expense: $82
Net Operating Income: $64
Expense Ratio: 56.2 %
Debt Info: n/a

RV Information

Number of RV Lots: 38
Average RV Lot Rent: $450

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $800