Mobile Home Park Details
- Purchase Method: Cash, New Loan
- Cap Rate: 7.5%
- Listing ID: 1927540
- Posted On: Nov 4, 2022
- Updated On: Nov 9, 2023
Description
Incredible opportunity to own 22 income-producing homes in the scenic Columbia River Gorge. Rowena Crest is a 22-space community with 12 park-owned manufactured homes and 10 stick-built rental homes. Most homes are newly placed or remodeled in the past 3 years. Total park net income is $216,125 (7.5% cap rate) with room to increase rental income. See Offering Memorandum for additional pictures and details.
Location
The Dalles is the largest city in Wasco County, located just 1 hr. and 20 mins. from Portland, Oregon, and is home to The Dalles Dam, Google Data Center, and The Dalles Bridge connecting Oregon and Washington. The area enjoys healthy tourist activity from world-class windsurfing and outdoor recreation.
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Park Information
| Community Type: | All Age |
| Number of MH Lots: | 22 |
| Total Occupancy: | 90.0 % |
| Year Built: | 1974 |
| Average MH Lot Rent: | $1,115 |
| Size: | 4 acre(s) |
Financial Information
| Gross Income: | $293,784 |
| Operating Expense: | $62,970 |
| Net Operating Income: | $216,125 |
| Expense Ratio: | 21.4 % |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 22 |
| Average Rent for Park-owned Homes: | $1,115 |