Contact Information

William Jackson

Northwest Park Brokerage

Mobile Home Park Details

  • Price: $765,000
  • Purchase Method: Cash, Seller Financing
  • Cap Rate: 5.3%
  • Property ID: 1256775
  • Posted On: May 15, 2020
  • Updated On: May 15, 2020

Property Description

Foley Court Mobile Home Park is Quality 10 space Senior Community located in downtown Hermiston, Oregon (30 miles from Kennewick, WA). Property operates on City Services and covers approx. 1-acre parcel. This owner operated Park offers a stable long-term tenant base and a well-cared for investment with upside in rents.

Location

Hermiston is a vibrant city of 18,000 residents located near the intersection of Interstate 84 and Interstate 82, just minutes from a Columbia River port and the Washington state line. Access to the property intersection of Interstate 84 and Interstate 82, just minutes from a Columbia River port and the Washington state line (30 miles from Kennewick, WA).

Hermiston lies in Umatilla County with a population of 75,889 per 2010 census. Umatilla County is part of the Hermiston-Pendleton, OR Micropolitan Statistical Area. Portland State University projects that 80% of all growth in the MSA will occur in the immediate Hermiston vicinity between 2016 and 2035

Amenities

  • Laundromat
  • Storage
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Park Information

Community Type: 55 And Over
Number of MH Lots: 10
Total Occupancy: 100.0 %
Year Built: 1963
Average MH Lot Rent: $320
Size: 1 acre(s)

Financial Information (Actual)

Gross Income $54,178
Operating Expense $19,562
Net Operating Income $34,615
Expense Ratio 36.1 %
Debt Info

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $525

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