515 E Main St - Central Rogue MHC 34 Unit Apartment Building Offered at $4,295,000 at a 5.43% Cap Rate Rogue River, OR 97537

Central Rogue MHC is an age restricted 55+ mobile home park comprised of 33 mobile homes and 1 single family residence in the city of Rogue River, OR. The city of Rogue River is in western Jackson County, on the north side of the Rogue River. Interstate 5 passes through the south side of the city, running along the north bank of the river.
The median home value in Rogue River is $549,000 and the median price of stick-built homes currently listed in Rogue River is $599,000 according to Realtor.com.
Two-bedroom rentals in Rogue River range from $1,525 to $1,750 per month according to Zillow.

The sale of Central Rogue MHC includes a .17-acre separate parcel at the entrance to the park that could potentially be developed or sold.
The 1800 sq. ft. 3 bedroom/ 2-bathroom single family home also included in the sale is on a separate parcel and could either be kept as a rental or spun off.
In addition to the SFR there are 4 park-owned mobile homes included in the sale. Current ownership is open to these being purchased at any time. The 4 (or the remaining unsold homes at close of escrow) are an additional source of potential revenue for a new operator.
The large lot at the back of the park is currently not generating any income.
The roads in the park were resurfaced at the beginning of 2019.
Water & sewer are provided by the city of Rogue River and are largely paid for by current ownership. Of the 34 total units only 12 are paying for utilities. With turnover those costs could be passed on to new residents in addition to bringing those units to market rents (currently $950).