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RV Park

Drift Creek Landing RV Park & Marina

3851 E Alsea Hwy, Waldport, OR 97394

Listing Price: $2,650,000

Cap Rate
6.73%
Number of Spaces
55
Lot Size
5.35 acres
Occupancy
97.0%
Price/Space
$48,182
Spaces/Acre
10.28
Year Built
1948

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire a manufactured housing community located in Waldport, Oregon, just south of Newport on the coast. Drift Creek Landing RV Park and Marina is an all-ages Marina, RV, and Mobile Home park that is comprised of 50 RV Sites, 5 Mobile Home sites, 3 apartments, two single-family homes, and a 37-slip marina on just over 5 acres. The property sits on the Alsea River just 4 miles east the Pacific Ocean, with direct access to the river and its world-famous Chinook Salmon. Drift Creek Landing RV Park and Marina is just a short drive from Downtown Waldport and the town of Bayshore. The current lot rents in place are approximately $475 with rents on adjacent properties north of $500 per month. All mobile homes and RVs are owned by the residents and the park is serviced by a surface water treatment plant and septic. In addition, there is a well that provides water for irrigation in the park. The septic system was upgraded in 2013 improving the pumping system and increasing the capacity. The property also features a laundry room, showers, and an additional shop building. There is a bait and tackle shop located on the dock in the marina that is owned and operated by the park. The two stick-built, single-family homes on the property were recently renovated and are currently occupied by the owners. They will provide an additional rental income when vacated and rented at market rate. The park keeps approximately 14 RV spaces reserved for seasonal stays. The Chinook Salmon season runs from August to December, and the park is full during those months with seasonal fishermen, their RVs, and boats. A new owner has the opportunity to make more of the RV spaces long-term and increase rents to market. Letter of Map Amendment from FEMA for the flood plain map that exempts the buildings on the property.

Investment Highlights

  • Large Long term RV Park and Marina located on the Alsea River in Waldport, Oregon
  • Recently upgraded electrical throughout the property.
  • 37-slip dock with bait & tackle shop
  • Owner willing to carry a portion of the sale. Terms and conditions dependent on strength of Buyer
  • Letter of Map Amendment from FEMA for the flood plain map that exempts the buildings on the property.

Exclusively Listed By

RV Park

Drift Creek Landing RV Park & Marina

Listing Price: $2,650,000

Cap Rate
6.73%
Number of Spaces
55
Lot Size
5.35 acres
Occupancy
97.0%
Price/Space
$48,182
Spaces/Acre
10.28
Year Built
1948

Investment Highlights

  • Large Long term RV Park and Marina located on the Alsea River in Waldport, Oregon
  • Recently upgraded electrical throughout the property.
  • 37-slip dock with bait & tackle shop
  • Owner willing to carry a portion of the sale. Terms and conditions dependent on strength of Buyer
  • Letter of Map Amendment from FEMA for the flood plain map that exempts the buildings on the property.

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire a manufactured housing community located in Waldport, Oregon, just south of Newport on the coast. Drift Creek Landing RV Park and Marina is an all-ages Marina, RV, and Mobile Home park that is comprised of 50 RV Sites, 5 Mobile Home sites, 3 apartments, two single-family homes, and a 37-slip marina on just over 5 acres. The property sits on the Alsea River just 4 miles east the Pacific Ocean, with direct access to the river and its world-famous Chinook Salmon. Drift Creek Landing RV Park and Marina is just a short drive from Downtown Waldport and the town of Bayshore. The current lot rents in place are approximately $475 with rents on adjacent properties north of $500 per month. All mobile homes and RVs are owned by the residents and the park is serviced by a surface water treatment plant and septic. In addition, there is a well that provides water for irrigation in the park. The septic system was upgraded in 2013 improving the pumping system and increasing the capacity. The property also features a laundry room, showers, and an additional shop building. There is a bait and tackle shop located on the dock in the marina that is owned and operated by the park. The two stick-built, single-family homes on the property were recently renovated and are currently occupied by the owners. They will provide an additional rental income when vacated and rented at market rate. The park keeps approximately 14 RV spaces reserved for seasonal stays. The Chinook Salmon season runs from August to December, and the park is full during those months with seasonal fishermen, their RVs, and boats. A new owner has the opportunity to make more of the RV spaces long-term and increase rents to market. Letter of Map Amendment from FEMA for the flood plain map that exempts the buildings on the property.

Exclusively Listed By

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