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Mobile Home Park Details

  • Price: $1,700,000
  • Cap Rate: 8.0%
  • Property ID: 1666633
  • Posted On: May 10, 2022
  • Updated On: Jul 6, 2022

Property Description

33-SPACE MOBILE HOME COMMUNITY WITH TWO SINGLE-FAMILY RENTALS

South Fork Mobile Home Park is located at 3224 Hwy 20 in Sweet Home, Oregon.​ The asset is situated on approximately four acres of land, zoned highway commercial.​ The property is comprised of 33 mobile home spaces and two free-standing stick-built houses , for a total of 35 sites.​ A third stick-built house on the property, in need of renovations, is currently occupying one of the mobile home spaces.​

South Fork is fully occupied, with strong demand for similar space in the area.​ The park is on public water and sewer.​ There are 17 storage sites on the property, which a new owner could lease up for additional revenue.​ The park strives for a neighborhood feel, with plenty of parking spots and plenty of outdoor space for families, retirees, and pets.​

Sweet Home, nestled in the foothills of Oregon’s Cascade Mountain Range on the southeastern edge of the Willamette Valley, is known as the “Gateway to the Santiam Playground.​” Recreation activities including fishing, boating, hiking, hunting, skiing, and more are all located within a short drive of the city.​ Residents of South Fork MHP benefit from convenient amenities including Dutch Bros Coffee and Dollar Tree, with a Walmart Supercenter just a 15 minute drive away.​

Location

Sweet Home, Oregon is nestled at the base of the Cascade Mountains, often referred to as the “Gateway to the Santiam Playground.” Sweet Home’s small-town charm and close proximity to the Willamette National Forest and Santiam River draws in visitors throughout the year. Nearby lakes, rivers, and Cascade Mountains make Sweet Home a superb location for adventurers. Sweet Home is ideally located within a two hour drive of Portland, and is less than an hour away from Oregon’s state capitol, Salem. Eugene and Corvallis are both short drives away, providing extensive cultural and shopping opportunities as well as first
in class education opportunities at the University of Oregon and Oregon State University, respectively.

Linn County is home to over 130,000 persons living in 16 cities in
western Oregon. Linn County is Oregon’s eighth largest county.
Named after Lewis F. Linn, a U.S. Senator who advocated the American Settlement of the Oregon, Linn County is an outdoor sports destination with pristine proximity less than two hours from the coast-line, skiing, and the rugged Oregon high desert. Historically, the county has relied heavily on the timber industry as it’s main source of income.

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Park Information

Number of MH Lots: 32
Total Occupancy: 100.0 %
Year Built: 1974

Financial Information (Actual)

Net Operating Income $135,567
Debt Info

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 31
Average Rent for Park-owned Homes: $750

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