489 SE 2nd St, 482 SE 1st Ave, Ontario , OR 97914
Idle Wheels MHP & Mini-Storage
The subject property offers an investor the opportunity to acquire the asset located at 489 SE 2nd Street, and 482 SE 1st Ave, Ontario, OR commonly known as Idle Wheels Mobile Home Park and Idle Wheels Mini-storage. Originally constructed in 1965, the asset is situated on 4 parcels totaling 5-acres of land. The offering provides a unique, high occupancy property consisting of a 52-space manufactured housing community with 2 single-family residences and 23 mini-storage units. The park is on public water and sewer with paved asphalt roads. The current owner has recently upgraded the park-owned home inventory with $100,000 in new mobile homes, as well as converted a substantial number of park-owned homes to homes on contract. There is currently strong, dependable cash-flow with a potential to increase by raising rents in the future and increasing occupancy by leasing the remaining vacant spaces and mini-storage units.
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