Equity Pacific is pleased to announce the sale of the Fir Haven Mobile Home Park located at 17007 SE Stark Street in Portland, Oregon. This well maintained and historically strong performing mobile home park investment property sold for $3,650,000 and a 7.0% capitalization rate.
Situated in outer SE Portland, this investment property comprises forty six (46) Mobile Home / RV pads and eight (8) apartments contained in five (5) buildings. The site is approximately 2.43 acres, and is connected to public water and sewer systems. There are mature evergreen trees throughout, providing a park like setting. Fir Haven is situated in a mixed residential and commercial neighborhood and is on the city bus line and close to shopping.
Solid upside on the majority of the longer term occupied pad spaces enables the new owner to strategically increase rents in 2020 and push the cap rate even higher.
Jason Waxberg represented both the buyer and the seller to the transaction.
17007 SE Stark Street, Portland, Oregon 97030