Contact Information

Anja Jauregui

Marcus Millichap

Mobile Home Park Details

  • Price: $1,395,000
  • Purchase Method: Seller Financing
  • Property ID: 1161545
  • Posted On: Dec 5, 2019
  • Updated On: Dec 12, 2019

Property Description

Currinsville Mobile Home Park is a well located, stabilized mobile home park that is located just north of Estacada, Oregon. The park consists of 28 manufactured home lots, all resident-owned and one apartment unit. Average lot rents for the park are $475 and the apartment is rented for $850 per month. Occupancy is 100 percent.
Currinsville MHP is an all-ages community and has well water and septic sewage system. The well was newly drilled within the past three years. The septic system had three new tanks installed as of October 2019. The majority of the resident-owned homes are in fair to good shape with many residents living in the community for several years.
The park is being offered as a stabilized investment with a 7.30 percent cap rate on current lot rents and 40 percent expense ratio. The owners would like to carry back a note and the offer terms are outlined below:

$400,000 Down-payment
4 Percent Interest Rate
20 Years Amortization
10-year Balloon or Fully Amortized

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Park Information

Community Type: All Age
Number of MH Lots: 28
Total Occupancy: 100.0 %
Year Built: 1970
Average MH Lot Rent: $450
Size: 3 acre(s)

Lot Information

Singlewide Lots: 27

Utility Information

Water: Well
Water Paid By: Park
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $700

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