920 Walnut StCondon, OR 97823

Property Details for 920 Walnut St

Lot size

1.00 AC

Property type

Other commercial real estate

APN

04S21E10BC-03100-R00198

APU

04S21E10BC03100R00198

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $13,694,395

  Hospitality

  $12,543,993

  Educational

  $10,436,455

  Medical

  $10,795,380

  Retail

  $16,234,485

Location Insight

City

Condon

County

Gilliam

State

Oregon

Latitude

45.2364

Longitude

-120.194

Property Tax & Assessments

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