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Mobile Home Park

Tidewater Mobile Home Park

260 W Highway 20, Toledo, OR 97391

Listing Price: $1,330,000

Cap Rate
5.18%
Number of Spaces
29
Lot Size
1.15 acres
Occupancy
100.0%
Price/Space
$45,862
Spaces/Acre
25.22
Year Built
1958

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Tidewater Mobile Home Park, a twenty-nine (29) unit park, which consists of twenty-four (24) tenant-owned spaces, four (4) park-owned homes, and one (1) apartment. The park is serviced by city water & sewer services. The property is listed at $1,330,000, underwritten with a 52.72% expense ratio. Based on the financial summary, an investor can expect to purchase the property at a 5.18% cap rate, with significant rental upside. The pro-forma cap rate is 6.22% based on comparable market rents. There are several value-add opportunities for a prospective investor, including: submetering and passing through utility costs (water/sewer) to tenants, and gradually increasing the quality of the housing stock by adding new park models and single wide homes. The economic outlook for Toledo, Oregon, is bright, with average home values having increased by 17.9% over the past year to $285,356. Oregon has consistently ranked as one of the nation’s hottest housing markets and is expected to continue to grow.

Investment Highlights

  • 29-Space MHP on the Oregon Coast with ideal unit mix
  • Day-1 cash flow + value-add opportunity
  • Market growth: Average home value in Toledo is $285,356 & Toledo home values have risen by 17.9% over the past year

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    License(s): OR: 201209561

    Oregon

Mobile Home Park

Tidewater Mobile Home Park

Listing Price: $1,330,000

Cap Rate
5.18%
Number of Spaces
29
Lot Size
1.15 acres
Occupancy
100.0%
Price/Space
$45,862
Spaces/Acre
25.22
Year Built
1958

Investment Highlights

  • 29-Space MHP on the Oregon Coast with ideal unit mix
  • Day-1 cash flow + value-add opportunity
  • Market growth: Average home value in Toledo is $285,356 & Toledo home values have risen by 17.9% over the past year

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Tidewater Mobile Home Park, a twenty-nine (29) unit park, which consists of twenty-four (24) tenant-owned spaces, four (4) park-owned homes, and one (1) apartment. The park is serviced by city water & sewer services. The property is listed at $1,330,000, underwritten with a 52.72% expense ratio. Based on the financial summary, an investor can expect to purchase the property at a 5.18% cap rate, with significant rental upside. The pro-forma cap rate is 6.22% based on comparable market rents. There are several value-add opportunities for a prospective investor, including: submetering and passing through utility costs (water/sewer) to tenants, and gradually increasing the quality of the housing stock by adding new park models and single wide homes. The economic outlook for Toledo, Oregon, is bright, with average home values having increased by 17.9% over the past year to $285,356. Oregon has consistently ranked as one of the nation’s hottest housing markets and is expected to continue to grow.

Exclusively Listed By

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    License(s): OR: 201209561

    Oregon

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