Mobile Home Investment Property 47000 SE Highway 26, Sandy, Oregon 97055 MOBILE HOME PARK INVESTMENT 136 NE 28 th Avenue Portland, Oregon 97232 503-327-8237 Office 503-954-3087 Fax www.equitypacificrealestate.com
Subject Property Exterior Photos This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
INVESTMENT SUMMARY Summary Price: $2,225,000 Down Payment: 25% $556,250 Number of Units: 40 Location 47000 SE Highway 26 Sandy, Oregon 97055 Financing Summary New Multi-Family Loan in the amount of Price/Unit: $55,625 $1,668,750 Land Acres: 4.75 at 5.00% Principal and Interest Amortized over 30 Years Land Price/SF: $11 Current Cap: 6.76% Market Cap: 7.47% Parcel ID Current GIM 8.7 Lot Size Market GIM 8.1 Utilities paid by Tenant Additional Information : 00698089 & 05021666 4.75 Acre (206,910 SF) Electricity Year Built: 1938 INCOME Annualized Operating Data Annualized Expenses Current Market 2018 Estimated % EGI Per Unit EXPENSES Scheduled Rent Income $253,560 $272,700 Taxes $9,588 - $240 RUBS/Laundry $16,566 $16,566 Insurance $4,986 - $125 Scheduled Gross Income $270,126 $289,266 Water & Sewer (Septic) $4,383 - $110 Less: Vacancy (5%) ($13,506) ($14,463) Trash/Recycling $9,416 - $235 Effective Gross Income $256,620 $274,803 Electricity $34,524 - $863 Less: Expenses ($106,258) ($108,621) Management $20,530 8.00% $513 Net Operating Income $150,362 $166,181 Maintenance & Repairs & Landscaping $7,699 3.00% $192 Turnover & Cleaning $5,132 2.00% $128 Year 1 Debt Service ($107,499) ($107,499) Reserves $10,000 - $250 Pre-Tax Cash Flow $42,864 $58,683 Principal Reduction $24,620 $24,620 Total Expenses $106,258 41.4% $2,656 Total Return 12.1% $67,484 15.0% $83,303 Cash Yield 7.7% $42,864 10.5% $58,683 Scheduled Income Current Market Total Units Unit Type Rent Rent 4 House / Cabin $650 - $995 $725 - $1050 4 Tiny House $475 $475 5 Apartment $700 - $950 $795 - $895 13 MH Space $475 - $485 $475 - $550 14 RV Space $350 - $525 $395 - $525 40 $21,130 $22,725 This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Rent Roll Unit # Unit / Space Type Rent 1 Apt (1BR/1BA) $725 2 Apt (2BR/1BA) $850 3 Apt (1BR/1BA) $850 4 Apt (1BR/1BA) $950 5 Apt (Studio) $700 6 House (2BR/1BA) $825 7 Cabin $850 8 Cabin $650 10 MH (SW) $475 11-A Tiny House (2BR/1BA) $475 11-B Tiny House (2BR/1BA) $475 12 MH (DW) $475 13 RV $450 14 MH (SW) $475 15 MH (SW) $475 16 MH (SW) $475 17 MH (DW) $475 18 MH (SW) $475 19 MH (DW) $475 20 MH (DW) $475 21 MH (SW) $485 22 RV $375 23 RV $350 24 Tiny House (2BR/1BA) $475 25 Tiny House (2BR/1BA) $475 26 MH (SW) $475 27 MH (SW) $475 28 MH (SW) $475 29 RV $525 30 RV $375 31 RV $375 32 RV $375 33 RV $350 34 House (2BR/1BA) $995 35 RV $450 36 RV $400 37 RV $400 38 RV $425 39 RV $400 40 RV $400 $21,130 This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Subject Property Description Bigfoot Mobile Home Park is a well-established park in a quiet forest-like setting. It is comprised of two (2) single family homes, two (2) cottages, four (4) tiny houses, a five (5) unit apartment building, four (4) double wide mobile home spaces, nine (9) single-wide mobile home spaces and fourteen (14) RV spaces. The Property is zoned RRFF5 which may allow cannabis cultivation as an accessory use. Location Bigfoot Mobile Home Park is located on Highway 26, on what was the Barlow Road segment of the Oregon Trail, just east of Sandy, Oregon. The City of Sandy is the commercial center of a rural area with a population of approximately 20,000. Sandy is located about 30 miles from downtown Portland. There is a bus from Sandy that connects to the Tri-Met's MAX light rail line at the Gresham Transit Center. To the east 40 miles is the Mt. Hood recreation/skiing area, one of the most popular ski resorts in Oregon. Sandy has a thriving business base, including many stores and services for visitors to the Mt. Hood Recreation Area. Located on the foothills of the Cascade Mountain Range, the city offers a vast system of parks, including the 1.75-mile Tickle Creek Trail, neighborhood playgrounds and the 127-acre Sandy River Park. Sandy is also a popular biking destination. This information has been secured from sources we believe to be reliable, but Equity Pacific Real Estate LLC makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Aerial Photo *Lot boundary is approximate
RENT SURVEY PROPERTY LOCATION Bigfoot MHP 47000 SE Hwy 26, Sandy, OR 97055 *Subject Property YEAR BUILT TOTAL # OF UNITS UNIT TYPE 1938 40 2 House 2 Cabin 4 Tiny House 5 - Apartment 4 Double Wide MH Space 9 Single Wide MH Space 14 RV Space CURRENT RENT $825- $995 $650 - $850 $475 $700 - $950 $475 $475 - $485 $350 - $525 UTILITIES INCLUDED SOURCE PHOTO MGMT Owner Water/Sewer Trash 38643 Strawbridge Sandy, OR 07055 1992 N/A Space Double Wide $540 MGMT RMLS 11/15/17 17655 SE Bluff Rd Sandy, OR 97055 1973 82 Space Single Wide $550 MGMT Water/Sewer Trash RMLS 8/22/17
PROPERTY LOCATION Big Valley Woods 32700 SE Leewood Ln Boring, OR 97009 YEAR BUILT TOTAL # OF UNITS UNIT TYPE 1973 239 Space Double Wide CURRENT RENT UTILITIES INCLUDED SOURCE PHOTO $760 MGMT RMLS Water/Sewer 6/19/17 Trash 37600 Sunset St Sandy, OR 97055 1981 N/A Space Double Wide $527 MGMT Water/Sewer Trash RMLS 6/5/17 17655 SE Bluff Rd Sandy, OR 97055 1973 82 Space Single Wide $563 MGMT Water/Sewer Trash RMLS 4/20/17
RECENT SALES COMPARABLES PROPERTY LOCATION Bigfoot MHP 47000 SE Hwy 26 Sandy, OR 97055 YEAR BUILT # UNITS PRICE PRICE / UNIT CAP RATE SOLD PHOTO 1938 40 $2,225,000 $55,625 6.76% TBD *Subject Property Tonisgah MHP 4264 SE 122nd Ave Portland, OR 97236 1951 40 $2,825,000 $70,625 5.85% Dec 2017 SOLD by Nine Oaks MHP 4239 SE 122nd Ave Portland, OR 97236 1993 15 $1,050,000 $70,000 5.50% Aug 2017
PROPERTY LOCATION Fir Haven MHP 17007 SE Stark Street Portland, OR 97233 YEAR BUILT # UNITS PRICE PRICE / UNIT CAP RATE SOLD PHOTO 1945 50 $2,295,000 $45,900 7.05% Aug 2016 SOLD by Viking Mobile Home Park 3441 SE 111th Ave Portland, OR 97266 1977 30 $1,780,000 $59,333 6.42% July 2016 Coronet Mobile Manor 16417 SE McLoughlin Blvd Milwaukie, OR 97267 1935 41 $2,400,000 $58,537 N/A June 2016
PROPERTY LOCATION Arbor Mobile Home Park 6415 NE Killingsworth St Portland, OR 97218 YEAR BUILT # UNITS PRICE PRICE / UNIT CAP RATE SOLD PHOTO 1981 118 $7,000,000 $59,322 5.80% March 2016 Foster Road MHP 12506 SE Foster Rd Portland, OR 97236 1991 10 $700,000 $70,000 4.77% Aug 2015 16300 SE Highway 224 Damascus, OR 97089 1969 65 $2,600,000 $40,000 9.32% April 2015