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
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 |