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51395 Preble Way 14 Unit Mobile Home Park $3,563,815 ($254,558/Unit) 6.50% Cap Rate La Pine, OR 97739
EXECUTIVE SUMMARY
Hard to find 6.5% CAP rate in Central Oregon. The site is improved with a 14 unit multi family development constructed in 2021 and is made up of 14 - three bedroom, two bathroom permanently affixed manufactured homes with A/C. Coming soon, an additional 56 units across the street at a same CAP rate. This income producing development is located in Central Oregon in the up and coming town of La Pine. It's close to Sunriver, Bend and all the outdoor adventures that draw people to the area. Development is professionally managed and has 100% occupancy with a waiting list.
PROPERTY FACTS
| Price | $3,563,815 | Apartment Style | Single-Family Home |
| Price Per Unit | $254,558 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.44 AC |
| Cap Rate | 6.50% | Building Size | 13,860 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Manufactured Housing/Mobile Home | Year Built | 2021 |
| Zoning | CRMX - COMMERCIAL/RESIDENTIAL MIXED USE | ||
| Price | $3,563,815 |
| Price Per Unit | $254,558 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 1.44 AC |
| Building Size | 13,860 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2021 |
| Zoning | CRMX - COMMERCIAL/RESIDENTIAL MIXED USE |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 14 | - | 990 |
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51395 Preble Way
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