Mobile Home Park Details
- Purchase Method: Cash, New Loan, Assumable Loan
- Cap Rate: 6.1% (Actual)
- Listing ID: 780537
- Posted On: Jan 26, 2017
- Updated On: Nov 28, 2018
Description
A 21 space SENIOR park on 3.76 acres in a quiet, serene, east Springfield location. The $430 monthly rent is below the Eugene/Springfield mobile home market allowing for reasonable future rent increases.There have been no park vacancies for years in this easy to run and maintain park. The park is serviced by well for water and a septic system. The park is in good condition with recent improvements included replacing the older main &lateral park water lines with new flex-piping to all 21 spaces, new speed bumps/driveway aprons and a new underground water holding tank. There is an assumable 30 year, $505,000 loan at 5% annual interest with Union Bank. A solid investment with a 6.3% cap rate and an easy to run park with future equity growth resulting from annual rent increases.
Amenities
- Laundromat
Park Information
| Community Type: | 55 And Over |
| Number of MH Lots: | 21 |
| Total Occupancy: | 100.0 % |
| Year Built: | 0 |
| Average MH Lot Rent: | $430 |
| Size: | 4 acre(s) |
Financial Information (Actual)
| Gross Income: | $105 |
| Operating Expense: | $22,606 |
| Net Operating Income: | $82 |
| Expense Ratio: | 21529.5 % |
| Debt Info: | $497,000 |
Lot Information
| Singlewide Lots: | 17 |
| Doublewide Lots: | 4 |
| Triplewide Lots: | 0 |
| Park Model Lots: | 0 |
RV Information
| Average RV Lot Rent: | $410 |
Utility Information
| Water: | Well |
| Water Paid By: | Park |
| Sewer: | Septic |
Park-Owned Homes
| Number of Park-owned Homes: | 0 |
| Average Rent for Park-owned Homes: | $410 |