Mobile Home Park Details
- Cap Rate: 5.6%
- Listing ID: 1611154
- Posted On: Feb 24, 2022
- Updated On: Aug 25, 2022
Description
51-SITE MOBILE HOME & LONG-TERM RV PARK WITH VALUE-ADD OPPORTUNITY
The offering provides the opportunity to acquire 7.03 acres in Dallesport, Washington, comprised of 34 mobile sites (7 park-owned) plus 16 RV sites, on-site storage, and a single-family home. The Property is located just north of The Dalles on the Washington side of the Columbia River, easily accessible off I-84, the main east/west thoroughfare extending across Oregon.
The Property benefits from below market rents, an ideal Washington location, and no rent control. Dallesport is a part of The Dalles market and benefits from nearby amenities and outdoor recreation in the trade area including nearby large employers such as Google.
Location
Dallesport is a community located off Interstate-84 on the Washington side of the Columbia River, the main east-west arterial crossing the state of Oregon. The Property is just north of The Dalles with direct access to Portland, Oregon only an hour west. The Dalles operates as the economic hub for the Mid-Columbia region and has a strong local economy historically supported by agriculture, that has grown to include tech. Google opened a center in 2006 in a $1.8 billion investment into the trade area, expanded with an additional $600 million facility in 2016, and just received a coveted tax break in late-2021 for another plant they are planning. Google is one of the largest employers in the county.
Park Information
| Number of MH Lots: | 51 |
| Total Occupancy: | 96.0 % |
| Year Built: | 1930 |
| Size: | 7 acre(s) |
Financial Information
| Net Operating Income: | $191,319 |
Utility Information
| Water: | Well |
| Sewer: | City |