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Photo of Manufactured Home Community
Photo of Manufactured Home Community
Photo of Manufactured Home Community

Mobile Home Park Details

  • Purchase Method: Cash, New Loan, Assumable Loan
  • Cap Rate: 7.5% (Actual)
  • Listing ID: 18932
  • Posted On: Sep 30, 2010
  • Updated On: Jan 26, 2011

Description

148 space family park on 36+ acres in Bend, Or., a premeir recreational area in the Northwest. City water/sewer,paved roads, nicely landscapped with trees. Room to expand the park with 30-35 additional spaces. Current rent $405 per space per month effective 1/1/11. Approximately 65% singlewide and 35% doublewide mobiles but most spaces large enough to accommodate doublewide homes. The $3,585,000 conduit loan is due in full 10/1/13 and can be assumed or cashed out with a defeasance fee cost. This loan is cross-collateralized with another Park loan in Hermiston,Or. on a 121 space park. Phone broker for more details.

Location

Bend, Oregon is a renown recreational area offering skiing,golfing,bike riding, fishing, hunting, rock climbing,and has 5 major resorts. The Park is located close to a major shopping center in the east part of Bend

Amenities

  • Storage
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Park Information

Community Type: All Age
Number of MH Lots: 148
Total Occupancy: 100.0 %
Year Built: 70
Average MH Lot Rent: $405
Size: 37 acre(s)

Financial Information (Actual)

Gross Income: $719,280
Operating Expense: $204
Net Operating Income: $533
Expense Ratio: 0.0 %
Debt Info: $3,585,000 assumable loan

Lot Information

Singlewide Lots: 20
Doublewide Lots: 128

Utility Information

Water: City
Water Paid By: Park
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 1
Average Rent for Park-owned Homes: $405