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Photo of Mobile Home Community
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Photo of Manufactured Home Community
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Photo of Mobile Home Park
Photo of Mobile Home Park
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Photo of Trailer Court
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Photo of Mobile Home Park
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Photo of Mobile Home Trailer Parks
Photo of Mobile Home Trailer Parks
Photo of Mobile Home Trailer Parks
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Photo of Mobile Home Trailer Parks

Mobile Home Park Details

  • Purchase Method: Seller Financing, Assumable Loan
  • Cap Rate: 7.5%
  • Listing ID: 106437
  • Posted On: Oct 6, 2011
  • Updated On: Mar 7, 2012

Description

20 space senior park with additional 13 RV spaces and a 2,356 sq. ft. home on 8 acres located primarily across the street from the McKenzie river,with the southern park boundary being the river. 17 spaces are occuppied in the mobile home portion of the park while there is 3 unoccuppied park owned homes that are included in the sale. The present owner hasnot utilized the 13 RV spaces in 2011 though income from the spaces in has been generated in the past years. Likewise the large home has been empty and could rent for $600 NNN if advertised. . Renting the home and selling 2 of the 3 park owned units would generate over a 14% annual cash return on the $225,000 invested. If a buyer were to convert the 13 RV spaces to 10 permanent mobile spaces the cash return would be further increased. This offering provides tremendous cash return and equity growth to an active owner. The $360,000 private first loan, amortized over 30 years, 6% annual interest, due in 2018 is assumable. The seller is willing to carry back a second $110,000 note with a $225,000 down payment.

Location

Blue river is a recreational area know for fishing, camping and white water rafting, is a 45 mile drive east from the Eugene/Springfield area, Oregon's second largest metro center. The park boarders the McKenzie river and a hour and half drive from the Bend, Ore., a recreational mecca.

Amenities

  • Laundromat
  • Club House
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Number of MH Lots: 20
Total Occupancy: 53.0 %
Year Built: 1960
Average MH Lot Rent: $375

Financial Information (Actual)

Gross Income: $71
Operating Expense: $19
Net Operating Income: $51
Expense Ratio: 26.8 %
Debt Info: Assumable $360,000 private loan first and seller will carry back $110,000 2nd.

Lot Information

Doublewide Lots: 20

RV Information

Number of RV Lots: 13

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 3
Average Rent for Park-owned Homes: $375