Contact Information

Property Description

Just across the river in Nyssa Oregon

All Tenant owned mobile homes
Surrounded by recession resistant agricultural jobs
Onsite manager
Park has been well maintained with many upgrades
Unit Mix: 35 Mobile homes sites, One RV site, 1 Studio Apartment, 1 stick built house and 11 self storage units
Low cost utilities, serviced by well and septic
Electricity direct billed by Idaho Power to each tenant
8 % CAP rate on current occupancy at current rents
9.42% Cash on Cash rate of return (with new loan)
Return on Investment 12.16% Year 1 (including principal reduction) based on $386,225 down payment and a new bank loan in the amount of $901,190.

Underwritten with 5 year term, 30 year amortization at 6.25% interest loan.

INVESTMENT SUMMARY

Fischer’s Place Mobile Home Park is a well-managed, all age community situated on one parcel of 6.94 acres. It includes a stick built house, one studio apartment, 35 mobile home sites, one RV site, a building with eleven self storage units and a second building that is used as a shop and general storage for the park.

Priced at an 8% Cap rate, Fischer’s Place offers the investor stabilized cash flow in an area with recession resistant agricultural jobs. Additional upside potential can be obtained through filling two vacant sites as well as future rent increases. Some of the vacant land could also possibly be developed into additional sites or selfstorage. Return on Investment (ROI) of 12.16% first year on quoted new financing.

Mobile Home Park Details

  • Price: $1,287,415
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.0%
  • Property ID: 837877
  • Posted on Oct 10, 2018
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Park Information

Community Type: All Age

Utility Information

Water: Well
Sewer: Septic

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