51386 Huntington Rd, La Pine, OR 97739
15 Unit Mobile Home Park | $1,800,000 ($120,000/Unit) | 6.81% Cap Rate | La Pine, OR 97739
For Sale
Active
Asking Price $1,800,000
- Property Type
-
Multifamily
- Square Feet
- 53,143 SF
Listing Contacts
- Property Info
Property Overview
This is a rare public-offered Central Oregon mobile home park in the area's fastest-growing city.
This 15-unit 14-pad park includes a stick-built home with a small studio. The park includes one
mobile home (#6), and the balance of the units tenant-owned (no sub-leased units). Many of the
units were remodeled by the Sellers, and every unit’s exterior was painted in 2022. The majority of
rents were raised by 9.9% on November 1st, 2023. Ground leases and Park-owned units include water,
sewer, snow plowing(if needed), common area landscaping, and garbage.
The park is on city services for ownership's convenience, and public sewer system at the property
is holding tanks which are then pumped by the city when requested. The commercial/residential mix-
use zoning allows for a variety of uses for alternative development in this fantastic location in
the heart of La Pine's commercial center. Future development in the neighborhood includes
Starbucks, AutoZone, and Walgreens.
This park is within walking distance of almost all essential services and amenities in La Pine,
making it a very convenient location for tenants. There is little common ground for
ownership/management to maintain, keeping landscaping costs low. Since 2022, all the park units
have had new exterior paint, and road maintenance was completed in 2023. Current owners have
rehabbed and sold what were once park-owned units to tenants in five units to improve the park's
character. The park currently operates very efficiently with off-site management.
This 15-unit 14-pad park includes a stick-built home with a small studio. The park includes one
mobile home (#6), and the balance of the units tenant-owned (no sub-leased units). Many of the
units were remodeled by the Sellers, and every unit’s exterior was painted in 2022. The majority of
rents were raised by 9.9% on November 1st, 2023. Ground leases and Park-owned units include water,
sewer, snow plowing(if needed), common area landscaping, and garbage.
The park is on city services for ownership's convenience, and public sewer system at the property
is holding tanks which are then pumped by the city when requested. The commercial/residential mix-
use zoning allows for a variety of uses for alternative development in this fantastic location in
the heart of La Pine's commercial center. Future development in the neighborhood includes
Starbucks, AutoZone, and Walgreens.
This park is within walking distance of almost all essential services and amenities in La Pine,
making it a very convenient location for tenants. There is little common ground for
ownership/management to maintain, keeping landscaping costs low. Since 2022, all the park units
have had new exterior paint, and road maintenance was completed in 2023. Current owners have
rehabbed and sold what were once park-owned units to tenants in five units to improve the park's
character. The park currently operates very efficiently with off-site management.
Property Details
- Class
- C
- Year Built/Renovated
- 1948/2022
- Stories
- 1
- Property Subtype
- Manufactured Housing/Mobile Home
- Lot Size (sq. ft)
- 53,143 SF
- Units
- 15
Highlights
- Central Oregon Mobile Home Park, in regions fastest growing city.
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