Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.6%
- Listing ID: 715842
- Posted On: Oct 24, 2016
- Updated On: Jan 24, 2017
Description
Interesting property comprised of 10 acres in the high end area of Tumalo with four separate, secluded mobilehomes which are recognized as non-conforming grandfathered in homes in a Multiple use agriculture zone that usually only allows one resident home. At a 9.6% capitalization rate, this pseudo park provides strong income return with room for future rent increases. Each home has a separate driveway and functioning sewer septic system while Avion water provides domestic water to each site monthly rent ranges from $1,150- $1,550.
Location
Bend, Oregon is one of the Northwest premier recreational areas known for skiing, biking, rock climbing, boating, & golf. Bend also has a viable high tech community which is recognized as one of the fastest growing high tech areas in the Northwest .Additionally the Bend area is nationally recognized as one of best Northwest beer centers for its great micro breweries.
Park Information
Community Type: | All Age |
Number of MH Lots: | 4 |
Total Occupancy: | 100.0 % |
Year Built: | 1977 |
Average MH Lot Rent: | $1,400 |
Size: | 10 acre(s) |
Financial Information (Actual)
Gross Income: | $67 |
Operating Expense: | $9 |
Net Operating Income: | $57 |
Expense Ratio: | 13.4 % |
Debt Info: | Private Note $260,00 |
Lot Information
Doublewide Lots: | 4 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | Septic |