Locks Mobile Estates

Sales Price: $1,900,000.00

Sales Price: $1,900,000.00
No. Spaces: 47
Price/Space: $40,426
Property Type: Family
Cap Ratio: 6.40%%
Net Operating Income: $121,685
Lot Size: 13.43 Acres Acres

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Locks Mobile Estates is a 47 space family community built in 1974 located on Interstate 84 in Cascade Locks, Oregon (40-minute drive from Portland). Property covers 13.43 acres and is serviced by Public Water & Sewer.

Mobile home Rents currently range $450-$510 with tenants responsible for Garbage & Electric (Rent includes Water & Sewer). Nearby properties Rents range from $550-$590 with Tenants Paying all utilities; with effective rents averaging $650/month.

There are 30 occupied Tenant owned mobile spaces and 17 open mobile pads. Potential upside includes submetering the water & sewer usage so that Tenants reimburse utility expenses monthly as well as filling the vacant pads.

Cascade Locks is a quaint town located along the Columbia River about 15 miles from Troutdale, Oregon and 40 miles from Portland via Interstate 84 and lies in Hood River County.