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Mobile Home Park

River Village

3200 N Oregon St, Ontario, OR 97914

Listing Price: $1,525,000

Cap Rate
6.39%
Number of Spaces
25
Lot Size
7.30 acres
Occupancy
94.0%
Price/Space
$61,000
Spaces/Acre
3.42
Year Built
1970

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire River Village Mobile Home Park, a 25-space Mobile Home & RV Community in Ontario, Oregon. Located on the eastern edge of Oregon, Ontario is less than an hour’s drive from Boise, Idaho and is a popular entry point for Idahoans looking to experience all that Oregon has to offer. River Village is currently achieving $350 per month for mobile home lot rent and $313 per month for RV sites. There is also a single-family home on the property, currently being rented for $875 per month. Originally built in the 1970s, the Park has plenty of upside in the form of raising rents, reallocating or adding spaces, and selling off park-owned homes. With its low rents, pleasant country environment, and beautiful views of the Snake River, the Park boasts a long waiting list. River Village is serviced by three on-site wells for water and four 1,500-gallon septic tanks. Both systems have been recently upgraded. Mobile Home and RV sites are serviced by 30 amp electricity, which tenants are direct-billed for. The asphalt & gravel roads throughout the park are in good condition. Residents of River Village include families and retirees, both of whom benefit from the Park’s proximity to fishing, recreation, major retailers, and a charming downtown. Ontario School District is made up of five elementary schools, one middle school, and one high school. Ontario has plenty of employment opportunities in the arenas of food processing, farming, government, and the booming marijuana industry. Large employers include Walmart, Home Depot, Kraft Heinz, and Ore-Ida. Because the state of Oregon has no sales tax, Ontario is a popular shopping destination for Idaho residents.

Investment Highlights

  • Upside in rents
  • 1 RV space can be converted to a mobile home space
  • Little-to-no vacancy in surrounding MH & RV parks
  • Tenant-base mix of families and retirees
  • Recent upgrades include new water lines & pumps

Exclusively Listed By

Listing Price: $1,525,000

Cap Rate
6.39%
Number of Spaces
25
Lot Size
7.30 acres
Occupancy
94.0%
Price/Space
$61,000
Spaces/Acre
3.42
Year Built
1970

Investment Highlights

  • Upside in rents
  • 1 RV space can be converted to a mobile home space
  • Little-to-no vacancy in surrounding MH & RV parks
  • Tenant-base mix of families and retirees
  • Recent upgrades include new water lines & pumps

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire River Village Mobile Home Park, a 25-space Mobile Home & RV Community in Ontario, Oregon. Located on the eastern edge of Oregon, Ontario is less than an hour’s drive from Boise, Idaho and is a popular entry point for Idahoans looking to experience all that Oregon has to offer. River Village is currently achieving $350 per month for mobile home lot rent and $313 per month for RV sites. There is also a single-family home on the property, currently being rented for $875 per month. Originally built in the 1970s, the Park has plenty of upside in the form of raising rents, reallocating or adding spaces, and selling off park-owned homes. With its low rents, pleasant country environment, and beautiful views of the Snake River, the Park boasts a long waiting list. River Village is serviced by three on-site wells for water and four 1,500-gallon septic tanks. Both systems have been recently upgraded. Mobile Home and RV sites are serviced by 30 amp electricity, which tenants are direct-billed for. The asphalt & gravel roads throughout the park are in good condition. Residents of River Village include families and retirees, both of whom benefit from the Park’s proximity to fishing, recreation, major retailers, and a charming downtown. Ontario School District is made up of five elementary schools, one middle school, and one high school. Ontario has plenty of employment opportunities in the arenas of food processing, farming, government, and the booming marijuana industry. Large employers include Walmart, Home Depot, Kraft Heinz, and Ore-Ida. Because the state of Oregon has no sales tax, Ontario is a popular shopping destination for Idaho residents.

Exclusively Listed By

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