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Address is 20727 Hwy 62 Shady Cove, OR 97539

Kim Berry

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Shady Acres Mobile Home Park

Mobile Home Community for Sale in Shady Cove, Oregon

20727 Hwy 62
Shady Cove, OR 97539

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Mobile Home Park for Sale

Number of MH Lots: 33
Size: 3.5 acre(s)
Cap Rate: 9.0%
Purchase Method: Cash, Seller Financing, New Loan
Status: Sold
Property ID: 385370
Posted on: Jul 08, 2013
Updated on: Sep 05, 2013

Property Description

Owner Carry for right buyer. Nicely maintained Mobile Home Park in Southern Oregon. Owner Carry... 33 spaces with a combination of mobile homes, 2 small stick built homes and a few RV tenants. Onsite manager is good, on Well and City Sewer. Rents are only $245 including W/S and with other Shady Cove MHPs at $380+W/S/G+other fees. 100% occupied. All other MHPs in area are full as well. Good, Solid investment. 9%CAP on current income and there is additional income from a short term contract on a home.

Park Information

Number of MH Lots:33
Total Occupancy:100.0%
Average MH Lot Rent: $265
Size:3.5 acre(s)

Financial Information (Actual)

Gross Income$138,696
Operating Expense$65,924
Net Operating Income$69,604
Expense Ratio 47.5%
Debt InfoNone

Utility Information

Water:Well
Water Paid By: Park
Sewer:City

Park-Owned Homes

Number of Park-owned Homes:9
Average Rent for Park-owned Homes: $530