Stonewood & Glacier Meadows Mobile Home Communities

Sales Price: $7,000,000.00

Sales Price: $7,000,000.00
No. Spaces: 125
Price/Space: $56,000
Property Type: All Ages
Cap Ratio: 5.61%
Net Operating Income: $392,909
Lot Size: 23.3 Acres

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Stonewood Mobile Home Community is a Quality All Ages community located in Le Grande, Oregon that features large lots and beautifully landscaped community for a serene park like setting (Space mix is 50/50). Community features amenities including community clubhouse with gas fireplace along with in-ground swimming Pool for tenants.

The owners sub-metered the water and sewer as well as upgraded all the water lines in the park for approx. $550,000. Space Rent is $300 effective September 1st, 2021, with tenants responsible for Water & Sewer Charges (Sub-metered). Included in the price are 12 Park Owned Rentals that gross $7,625/month (total assessed values at $261,000) as well as 6 contracts being held that gross $1,933/month (Balance’s total $163,403).

Along with the fully developed Stonewood, there is also a 22-unit community on 3.3 acres that is known as Glacier Meadows Mobile Home Park located at 3111 East Q Ave La Grande, OR 97850. All of the infrastructure is in place and ready for homes to be placed (See Site Map).

Location:
Interstate 84 is the main freeway through La Grande which links the city with other nearby cities in the area (Pendleton, Baker City), as well as Boise, Idaho, Ontario and Umatilla, and Spokane/Tri-Cities area of Washington. The local economy is based in farming, ranching, timber, Solar Wind Energy and an abundance of hunting, fishing, skiing, and camping attractions.