Mobile Home Park Details

  • Cap Rate: 6.0%
  • Listing ID: 3171285
  • Posted On: Jun 19, 2023
  • Updated On: Aug 14, 2023

Description

The offering includes the opportunity to acquire the Riverside Meadows Mobile Home and RV Park (“the Park”) located in Vernonia, Oregon. The Park is comprised of 37 sites including 22 mobile home spaces, 14 RV spaces, one 3,300 SF 5-bedroom / 3-bath single-family home, and 5 storage units. All mobile home and RV spaces are tenant-owned. The Park is serviced by public utilities including city water, city sewer, city electric, and individual tenant garbage. The Park has undergone improvements to modernize and minimize Landlord management responsibilities including installation of electric meters, direct WiFi-enabled water meters and leak detection and more. To further ease the management overhead, all tenants receive automated invoice billing for rent and water / sewer usage. There is potential to add up to 27 more spaces to the Park with existing engineering drawings.

Amenities

  • Storage
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Park Information

Number of MH Lots: 37
Total Occupancy: 100.0 %
Year Built: 1973
Size: 17 acre(s)

Financial Information

Net Operating Income: $210,233

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