Contact Information
Saundra Price
License: WA#: 106415 OR#: 201216252
Northwest Park Brokerage
Mobile Home Park Details
- Price: $4,250,000
- Purchase Method: Cash, New Loan
- Cap Rate: 5.7%
- Listing ID: 4393763
- Posted On: Feb 8, 2024
- Updated On: Mar 1, 2024
Description
Rogue River Mobile Estates is an upscale 55+ Community located in picturesque setting of Grants Pass, Oregon (Right off HWY I-5). Property consists of 40 mobile homes sites, Studio Apt, Shop & Additional Workshop on landscaped 57.6 Acres.
Upside includes raising rents, potential expansion and utilizing the secured RV Storage area.
Current Space rents are $545, which are under-market compared to surrounding inferior parks in the $700-$865 range. Lot rent includes water (well), sewer (septic) and Garbage (Electric/Cable is directly billed to tenants).
Property is serviced by two wells; one for Park water use and the other for irrigation (potable). The septic system consists of Two 1,000 gallon holding tanks and 2 septic systems (located near secured RV Storage Area).
Location
City of Rogue River/Grants Pass is located in Southwestern Oregon, just off Interstate 5 in Jackson County. Rogue Valley Internation Medford Airport is just 15 miles East of the Property. Rogue River Highway connects to Redwood Highway (Hwy 199) a major route that connects the I-5 Corridor to Highway 101, to take you to the scenic Oregon-California Coast.
Amenities
- Storage
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 40 |
| Total Occupancy: | 99.0 % |
| Year Built: | 1975 |
| Average MH Lot Rent: | $545 |
| Size: | 58 acre(s) |
Financial Information (Actual)
| Gross Income: | $311,760 |
| Operating Expense: | $71,395 |
| Net Operating Income: | $240,365 |
| Expense Ratio: | 22.9 % |
RV Information
| Number of RV Lots: | 0 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Contact Information
Saundra Price
License: WA#: 106415 OR#: 201216252
Northwest Park Brokerage
