Contact Information

Mobile Home Park Details

  • Price: $1,800,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 6.0%
  • Property ID: 1435512
  • Posted On: May 8, 2021
  • Updated On: May 8, 2021

Property Description

Presenting investors the opportunity to acquire a highly-occupied, turnkey 55+ MH Community on city services with convenient access to local amenities, employment, healthcare services and the greater Portland Metro.​
The investment opportunity is located in a growing Portland outlying area, Wood Village, and on major thoroughfare, NE Halsey Street.​ The community’s turnkey declaration is based in consistently high occupancy and its 55+ resident-profile on city services, presenting an easy-to-manage MHC with strong future potential.​ Wood Village is a desirable area with low vacancy.​

The MHC's stable cash-flow and occupancy base are driven by its main thoroughfare locale; proximity to local trade area amenities including Target, Fred Meyer, Kohl’s, Columbia Outlet Stores, Mount Hood Medical Center and more.​ The subject property has convenient commute options to the greater Portland area and Hood River with an I-84 on-ramp less than a mile away and public transit options just outside the property’s entrance.​

The property is fully occupied and has maintained historically low turnover regardless of unit type.​ Strong local market rental statistics show the property’s current rents present a significant upside opportunity.​

ALL PROPERTY SITE VISITS TO BE SCHEDULED THROUGH LISTING BROKERS - PLEASE DO NOT CONTACT OWNERSHIP OR RESIDENTS

Please contact listing brokers for additional information.​

Location

INVESTMENT HIGHLIGHTS:
+ ​Highly-Occupied 55+ Community on City Services
+​Convenient I-84 access to Downtown Portland & Greater Metro
+​Growing Community with New Multi-Family and Retail Development located on Trimet Transit Routes & Nearby Significant Trade Areas, Employment Drivers &
+​Turnkey Opportunity with Upside

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Park Information

Community Type: 55 And Over
Number of MH Lots: 12
Total Occupancy: 100.0 %
Average MH Lot Rent: $615
Size: 1 acre(s)

Financial Information

Net Operating Income $107,989
Debt Info

Utility Information

Water: City
Water Paid By: Tenant - Submetered
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7
Average Rent for Park-owned Homes: $764

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