Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan
- Cap Rate: 9.7% (Actual)
- Listing ID: 466531
- Posted On: Aug 24, 2014
- Updated On: Dec 2, 2015
Description
Great location on Snake River, looking more like a campground than mobile home park, this 28-unit park on 10.15 acres is turn key, bounded by the Snake River and River Rd on 3 sides, and comes with 8 park-owned homes, a coin-operated laundry, boat ramp, and several extra RV spaces, all of which are rented. Excellent in-place management, no deferred maintenance. The park is laid out for expansion on the north side, which includes an undeveloped 2 1/2 acre section, and an additional .55 acre utility/septic field easement.. A double-wide located on 1/2 acre apart from the rest of the park offers a great opportunity for an on-site owner to live/work/fish. Excellent water rights with 3 wells and irrigation from river. Pristine views looking west across the Snake into Oregon. Wonderful opportunity for investor or owner/retiree. Owner/Broker
Amenities
- Laundromat
Park Information
| Community Type: | All Age |
| Number of MH Lots: | 28 |
| Total Occupancy: | 99.0 % |
| Year Built: | 1987 |
| Average MH Lot Rent: | $248 |
| Size: | 10 acre(s) |
Financial Information (Actual)
| Gross Income: | $109,072 |
| Operating Expense: | $36,061 |
| Net Operating Income: | $73,011 |
| Expense Ratio: | 33.1 % |
Lot Information
| Singlewide Lots: | 16 |
| Doublewide Lots: | 7 |
RV Information
| Number of RV Lots: | 6 |
| Average RV Lot Rent: | $225 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 8 |
| Average Rent for Park-owned Homes: | $570 |