Riverside Meadows 1105 Riverside Dr 37 Unit Mobile Home Park $3,600,000 ($97,297/Unit) Vernonia, OR 97064

OVERVIEW
Riverside Meadows Mobile Home Park in Vernonia, Oregon, is a
river front community offering a unique blend of small-town
charm, scenic natural surroundings, and practical amenities for
residents. The park currently total 37 occupied spaces and features a mix of mobile home and
RV sites, with city-provided water and sewer utilities, and is
situated on over 16 acres of land. Its location provides easy access
to employment and outdoor recreation, including the nearby
Banks-Vernonia State Trail, making it an attractive option for
nature enthusiasts and those seeking a peaceful, rural lifestyle.

EXPANSION POTENTIAL
A significant benefit of Riverside Meadows is its potential for
growth, bolstered by city-approved plans for expansion and
rent growth potential. The City of Vernonia has granted
approval for the addition of 27 new RV spaces on the property,
ensuring that the expansion is ready for development. This
expansion offers a compelling opportunity to increase rental
income and accommodate the rising demand for RV
accommodations in the region. With strong occupancy rates in
the area and a robust local economy supported by proximity to
Portland and Hillsboro, the addition of new RV spaces positions
Riverside Meadows as a versatile and forward-looking
community asset.

RENTAL UPSIDE
Additionally, there is considerable upside in current rents
compared to the local market. The average site rent at Riverside
Meadows is $595 for mobile home sites and $620 for RV lots,
which is notably below the average rents of comparable parks in
the region—some of which command monthly rents ranging from
$825 to $900 for similar sites. This gap presents a clear
opportunity to increase rents over time, aligning them more
closely with market rates and thereby boosting revenue without
the need for major capital improvements. The combination of city-
sanctioned expansion and below-market rents positions Riverside
Meadows as a property with both immediate and long-term
growth prospects.