For Sale
$499,000

920 Walnut StCondon, OR 97823

Oregon RV Park - High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Condon, Oregon RV park presents a lucrative investment opportunity. Priced at $499,000, it boasts a 9.62% cap rate and a strong NOI of $47,992. The park features 21 full hook-up sites (50 amp) spread across two one-acre lots, conveniently located near town. Amenities include a two-bedroom, one-bathroom house (currently rented), a utility building housing a laundromat and two bathrooms with showers, and a storage shed. The park is primarily gravel for easy maintenance and offers open space for expansion. Two sites are occupied by tenant-owned manufactured homes, one by a park-owned manufactured home, and the remainder are available for short-term and long-term rentals. Two note receivables accompany the sale. Significant rental increases are possible, given that rents haven't been raised in years. The laundromat enjoys a local monopoly, attracting customers from a wide area. Mature shade and fruit trees enhance the park's appeal. The park's diverse income streams mitigate seasonal fluctuations, and overhead expenses are low. This property offers multiple avenues for value enhancement and development potential, making it an ideal investment for a discerning buyer. The property is situated at 920 W Walnut St, Condon, OR 97823, in Gilliam County.

Highlights

  • Multiple income streams from diverse tenants.
  • Low operating expenses and minimal capital expenditures required.
  • Experienced property manager already in place.
  • Proven track record of strong financial performance.
  • Significant upside potential through value-add opportunities.
  • Expansion and development possibilities on existing site.

Property Details for 920 Walnut St

Property type
Specialty properties, Mobile home & RV parks

Location Insight

City
Condon
County
Gilliam
State
Oregon
Latitude
45.237026390826
Longitude
-120.19414327088
920 Walnut St, Condon, Oregon

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920 Walnut St
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