28388 SE Eagle Creek Rd
Estacada, OR 97023
Currinsville Mobile Home Park · Multifamily Property For Sale

Currinsville Mobile Home Park is a well located, stabilized mobile home park that is located just north of Estacada, Oregon. The park consists of 28 manufactured home lots, all resident-owned and one apartment unit. Average lot rents for the park are $475 and the apartment is rented for $700 per month. Occupancy is 100 percent with one resident paying $500 in lot rent. The rents have not been raised in over two years. Currinsville MHP is an all-ages community and has well water and septic sewage system. The well was newly drilled within the past three years. The septic system had three new tanks installed as of October 2019. Most of the resident-owned homes are in fair condition with many residents living in the community for several years. The park is being offered as a stabilized investment with a 7.04 percent cap rate on current lot rents and 41.22 percent expense ratio. Bringing lot rents to $500 raises the cap rate to 7.66 percent. Seller financing is preferred, and an outline of terms are below. All offers are encouraged, however. PROPERTY HIGHLIGHTS • $1,395,000 Asking Price • $390,600 Down-payment • 4.50 Percent Interest Rate • 20 Years Amortization • 10-year Balloon or Fully Amortized