Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 7.3%
- Listing ID: 893370
- Posted On: Feb 8, 2018
- Updated On: Apr 20, 2018
Description
A 13 space mobile home park and a stick built manager's home all homes owned by the park ownership with 100% rental history in one of the fastest growing areas on the West Coast, Deschutes County (Sunriver, Bend, Redmond). Space rents from $650-$800 a month, the on-site manager lives in the stick built house. A 7.3% cap rate with room to increase the cash/cap rate. Newly blacktopped park access road and all units in good condition. Strong equity growth property.
Location
Deschutes county is one of the fastest growing areas on the West coast know for its skiing, hiking, boating, running opportunities. La Pine is a bedroom community with residents working in Sunriver resort and Bend. The real estate market in Deschutes county continues to appreciate in value every year.
Amenities
- Laundromat
- Storage
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 13 |
| Total Occupancy: | 100.0 % |
| Year Built: | 1948 |
| Average MH Lot Rent: | $700 |
| Size: | 1 acre(s) |
Financial Information (Actual)
| Gross Income: | $103,320 |
| Operating Expense: | $33,819 |
| Net Operating Income: | $69,501 |
| Expense Ratio: | 32.7 % |
| Debt Info: | 250,000 |
Lot Information
| Singlewide Lots: | 10 |
| Doublewide Lots: | 3 |
Utility Information
| Water: | City |
| Water Paid By: | Park |
| Sewer: | City |
Park-Owned Homes
| Number of Park-owned Homes: | 13 |
| Average Rent for Park-owned Homes: | $700 |